WASHINGTON — White House economic advisors are privately pitching a sweeping $3.2 trillion legislative package to key House and Senate Republicans, according to internal White House memos reviewed by this publication. The package seeks to deliver economic wins before the November election.
The proposed legislation includes a permanent reduction of the corporate tax rate from 21 percent to 15 percent, a move estimated to cost $1.8 trillion over 10 years. It also earmarks $800 billion for new infrastructure projects, focusing on domestic energy production and critical minerals supply chains. Another $400 billion is dedicated to deregulation across the energy and manufacturing sectors.
President Trump's economic team, led by Treasury Secretary Scott Bessent, presented the framework to congressional leadership last week. The administration hopes to push the bill through Congress using budget reconciliation, which requires only a simple majority vote in the Senate.
Major industry groups have already begun lobbying. The American Energy Alliance and the National Association of Manufacturers collectively spent $12 million on federal lobbying in the second quarter of 2026, according to OpenSecrets filings. Both groups stand to benefit directly from the proposed tax cuts and deregulation.
Energy companies ExxonMobil and Chevron, alongside manufacturers Caterpillar and General Electric, are positioned as primary beneficiaries. The bill's provisions would lower their tax burden and ease regulatory compliance for new projects, potentially increasing profit margins.
The proposed infrastructure spending would inject billions into the construction sector, benefiting firms such as Fluor Corporation and Bechtel through increased federal contracts for energy infrastructure, roads and bridges.
Democrats have already signaled strong opposition. Senate Minority Leader Chuck Schumer called the bill a "giveaway to corporations and the ultra-rich" during a private caucus meeting Monday, vowing to fight the measure over concerns about the national debt and environmental impact.
The White House strategy aims to energize Trump's base and attract independent voters by highlighting job creation and lower consumer prices. The timing, just three months before the election, puts pressure on Republicans to deliver a legislative victory.
The bill represents the administration's most aggressive legislative push since the CLARITY Act passed in 2025, surpassing previous single legislative efforts in scale.
Passing the bill through reconciliation requires strict adherence to budget rules, potentially forcing some provisions to be temporary. The Congressional Budget Office is expected to score the full package by late August, a critical step before any floor vote.
Congressional aides said negotiations with moderate Republicans are ongoing, particularly over the scope of environmental deregulation—votes that are crucial for securing the simple majority needed for Senate passage.
