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2012

Advocacy in action blog

2 min read

NAIFA Urges Congress to Protect Main Street Businesses From Harmful Tax Proposal

By NAIFA on 4/11/25 11:04 AM

Recent news reports indicate that some congressional Republicans may be amenable to a so-called "millionaire tax" that would raise the highest federal individual income tax rate to around 40%. NAIFA opposes this proposal due to the harm it would likely cause hundreds of thousands of pass-through corporations. Many owners of these small, often Main Street, businesses organized as S corporations, partnerships, and sole proprietorships would face large tax increases. 

Topics: Small Business Taxes Congress
4 min read

NAIFA-Alabama Holds a Successful Legislative Day

By Sallie Bryant on 4/10/25 2:56 PM

Members of NAIFA-Alabama recently participated in the annual visit with our legislators.  Before our visit at the State House, we spent the morning at the office of the Alabama Securities Commission. We heard from Securities Commission Director Amanda Senn and Alabama Department of Insurance Commissioner Mark Fowler. Director Senn talked about cryptocurrency fraud and both speakers discussed AI. Commissioner Fowler said that AI is top-of-mind of insurance commissioners around the country. He also spent some time discussing the duties of members of his staff. We were interested to hear there are 11 full-time investigators of insurance fraud, all of whom have arrest authority.

Topics: State Advocacy
1 min read

Remote Notarization Law Would Benefit Consumers and Insurance and Financial Practices

By NAIFA on 4/8/25 12:40 PM

NAIFA has joined industry partners in urging congressional support for the SECURE Notarization Act, which would allow businesses and consumers to work remotely with notaries to execute critical documents. Often, signers must currently be in the physical presence of a notary to complete many transactions, including the signing of insurance and financial documents. These may include insurance claim forms, beneficiary request forms, change of ownership documents, affidavits, powers of attorney, living trusts, advance health care directives, and contracts, to name a few.

Topics: Supported Legislation Remote Notarization
1 min read

NAIFA Supports Legislation to Ease the Financial Burden on Caregivers

By NAIFA on 4/7/25 4:53 PM

Family caregivers provide $600 billion in unpaid care each year, often impacting their own career opportunities or their families’ financial security. To help them cope with this burden, NAIFA strongly supports the bipartisan Credit for Caring Act, which would provide a $5,000 tax credit to offset out-of-pocket costs associated with home caregiving. These may include the cost of home modifications, health aides, adult daycare, medicines, transportation, and other support services.

Topics: Long-Term Care Supported Legislation
2 min read

Promoting Insurance and Financial Products Is Good Policy

By NAIFA on 4/2/25 11:13 AM

Congress is looking to extend expiring provisions of the Tax Cuts and Jobs Act – which include reduced individual tax rates and a 20% deduction of qualified pass-through income for sole proprietorships, partnerships, and S-corporations – while at the same time creating new tax cuts President Donald Trump promised during his campaign. The Congressional Budget Office projects that extending the TCJA alone will cost around $4.6 trillion over 10 years. Lawmakers and the administration are looking to cover the cost by finding new sources of revenue and government spending cuts. We would be naïve to think the insurance and financial services industry will escape scrutiny.

Members of Congress need to understand that the products and services provided by insurance and financial professionals are part of the solution. Tax laws and other policies that encourage Americans to take control of their own financial well-being, plan for retirement, and mitigate life’s inevitable risks strengthen the economy and can reduce government spending. Insurance products and services also improve Americans’ quality of life by providing financial security and reducing financial worries. The results of two surveys, one by LIMRA and Life Happens and the other by ACLI, illustrate the points.

Topics: Life Insurance & Annuities Legislation & Regulations Taxes Federal Advocacy
1 min read

U.S. Companies and Persons Exempted From BOI Reporting Requirements

By NAIFA on 3/25/25 1:22 PM

The U.S. Treasury Department's Financial Crimes Enforcement Network released an interim final rule that eliminates a beneficial ownership information (BOI) reporting requirement for U.S. businesses. The rule exempts domestic reporting companies and U.S. citizens and residents who are beneficial owners of foreign reporting companies.

Topics: Small Business Federal Advocacy
1 min read

NAIFA Applauds CMS Decision to Protect Access to Medicare Agents for Consumers Affected by Disasters

By NAIFA on 3/21/25 5:02 PM

The Centers for Medicare & Medicaid Services (CMS) has withdrawn a memo issued during the previous administration that would have restricted how Medicare beneficiaries may enroll using a Special Election Period (SEP) when affected by a Government Entity-Declared Disaster or Other Emergency. Under the new direction, the process will not change and individuals will not be forced to enroll by calling Medicare directly.

Topics: Medicare
1 min read

NAIFA-North Carolina Offers Alternative to State-Run Retirement Plan

By Fred Joyner on 3/21/25 4:55 PM

On Wed. March 12, 2025, NAIFA-NC provided testimony to the NC House Insurance Committee regarding House Bill 79, North Carolina Work and Save (a state-run retirement plan).

Topics: State-Facilitated Retirement Plans State Advocacy North Carolina
1 min read

NAIFA Video: The State of the Tax Bill

By NAIFA on 3/14/25 4:31 PM

Washington insiders and NAIFA consultants Danea Kehoe and Pat Raffaniello have recorded a new video outlining the congressional process of funding the federal government and providing an update on the state of federal tax legislation.

Topics: Legislation & Regulations Taxes Congress
1 min read

NAIFA Advocates for Stability in Medicare Advantage and Part D Markets

By NAIFA on 3/6/25 3:03 PM

Medicare Advantage and Medicare Part D consumers rely on agents and brokers to help them understand and make informed decisions about these often complex products. Yet, ongoing instability in the marketplace and uncertainty about compensation for agents and brokers are making it difficult for professionals to give critical guidance to their clients.

NAIFA has joined NABIP, HAFA, the Big I, and the CIAB in asking Congress to address these challenges.

Topics: Medicare Congress Medicare Part D

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