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Advocacy in action blog

1 min read

NAIFA Joins Business Community in Urging Congress to Preserve Key Tax Deduction

By NAIFA on 5/5/25 7:24 PM

NAIFA and a coalition of industry organizations has signed a joint letter to Congress urging lawmakers to protect a vital component of the federal tax code: the full deductibility of state and local business taxes known as the B-SALT (or C-SALT) deduction.

1 min read

DOL Drops Enforcement of Biden-Era Independent Contractor Rule as It Reviews the Measure

By NAIFA on 5/2/25 3:25 PM

The Department of Labor has announced that it will not enforce a 2024 rule for determining employee or independent contractor classification under the Fair Labor Standards Act. That rule, put in place by the Biden Administration, is now under review by the Department and also faces several federal lawsuits challenging its validity. NAIFA opposed the 2024 rule.

Topics: Legislation & Regulations DOL Producer Employment
3 min read

Financial Professionals to Advocate for Their Businesses and Clients at NAIFA’s Congressional Conference

By NAIFA on 5/1/25 1:41 PM

NAIFA is hosting the 12th annual Congressional Conference May 19-20 in Washington, D.C. Day 1 of the event at the Westin DC Downtown will feature targeted advocacy training with briefings on legislative issues that affect financial professionals’ businesses, clients, and communities. Washington insiders at Congressional Conference will offer attendees best practices for conducting congressional meetings and tips for developing impactful long-term relationships with legislators.

Topics: Legislation & Regulations Press Release Grassroots Congress Congressional Conference
1 min read

Life Insurance Industry Launches "We Put Life INTO America" Campaign

By NAIFA on 4/30/25 11:59 AM

The American Council of Life Insurers (ACLI) has launched a powerful new campaign spotlighting the life insurance industry's deep-rooted role in supporting American families and the nation’s economy. Titled “We Put Life Into America,”  the campaign highlights the many ways life insurers strengthen the country, not only by providing financial protection but also by investing over $8 trillion into the economy and paying nearly $200 billion to policyholders and beneficiaries in 2023.

2 min read

New Jersey is 50th State to Adopt Best Interest Annuity Rule

By NAIFA on 4/21/25 12:59 PM

American Council of Life Insurers (ACLI) President and CEO David Chavern and National Association of Insurance and Financial Advisors (NAIFA) Trustee Dennis Cuccinelli made the following comment on the best interest annuity rule approved today by the New Jersey Department of Banking & Insurance:

Topics: Annuity Best Interest
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

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