On the Hill

The Big “I” urges Congress to act well in advance of the 2027 deadline and reauthorize a long-term, clean extension of this important program.

The bipartisan bill directs the Health and Human Services (HHS) Secretary to update regulations for independent agents, brokers and third-party marketing organizations (TPMOs) under Medicare Parts C and D.

Last week, a bill was reintroduced to clarify the jurisdiction of the Consumer Financial Protection Bureau (CFPB) and affirm that state regulators are best positioned to oversee the insurance industry.

During the hearing, a bill was formally introduced to streamline disaster assistance programs to accelerate aid to survivors and encourage states to invest in disaster mitigation efforts.

Independent insurance agents may be wondering what tax provisions were included as part of the expansive package. This summary from the Big “I” provides a brief overview.

Passage of the bill will make permanent the 20% deduction for pass-through entities, a huge win for many independent insurance agencies.

Charles Symington, Big “I” president & CEO, participated in a panel at the 2025 Insurance Information Institute’s Joint Industry Forum in Chicago.

The Big “I” voiced its support for keeping state insurance regulators in charge of implementing and enforcing federal privacy standards and adopting any necessary sector-specific guidance within the insurance industry.

The “Tackling Predatory Litigation Funding Act” was introduced in both the U.S. Senate and House to create a new tax for third-party litigation funding and to clarify it does not qualify for capital gains treatment, a loophole that currently allows foreign investors to pay zero U.S. taxes.

The bill would make permanent and increase the 199A deduction for pass-through entities from 20% to 23%, which is a huge win for many independent insurance agencies.