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.
Momentum has been building in the U.S. Senate where several new bipartisan proposals aim to improve forest management, reduce wildfire risks and strengthen disaster resilience.
Get up to speed on the key issues that will be the focus of the 2025 Big “I” Legislative Conference and check out the lineup of congressional speakers.
This week, Georgia Gov. Brian Kemp signed into law a comprehensive package of legal reform measures designed to restore balance and fairness to the state’s troubled civil justice system.
