House Democrats Pass $3.5 Trillion Budget Resolution
It is widely expected that the reconciliation package will include significant tax increases for both businesses and individuals.
On the Hill
Risk Rating 2.0: FEMA Issues Agent Guide and September Training Dates
The guide gives agents easy access to Risk Rating 2.0 information when completing a National Flood Insurance Program (NFIP) application.
Democrats Move Forward with $3.5 Trillion Budget
The reconciliation package could include up to $1.75 trillion in tax increases that could impact small businesses, including independent agencies that file taxes as a C corporation.
Big ‘I’ Submits Comments on Biden Administration Reinstating HUD Disparate Impact Rule
The Big “I” pointed out that the rule directly conflicts with state laws that require rates to be based upon actuarially sound factors predicated on risk.
Bill to Eliminate FIO Introduced in the House
Supported by the Big “I,” the legislation would eliminate the Federal Insurance Office, an information-gathering body within the U.S. Treasury Department.
FEMA Sends out Update as NFIP’s Risk Rating 2.0 Implementation Nears
The notice to Write-Your-Own insurance companies stated the anticipated quoting and policy issuance for Phase 1 of Risk Rating 2.0 policies will be available starting on Aug. 16.
Big ‘I’ Provides Comments on New Health Insurance Compensation Disclosure Requirements
The Big “I” and other organizations urged the Department of Labor to adopt a staged enforcement policy for new disclosure requirements.
NFIP ‘Continuous Coverage’ Legislation Introduced in House
The legislation clarifies that a flood insurance policy purchased in the private market can count as “continuous coverage” under the terms of the National Flood Insurance Program (NFIP).
FEMA Announces August Dates for Risk Rating 2.0 Agent Webinars
The webinars will bring agents the latest information on how and when the new pricing methodology for the National Flood Insurance Program (NFIP) will be implemented.
Legislation to Phase Out Small Business Deduction Introduced in Senate
The legislation would phase out the 20% small business tax deduction for taxpayers with incomes over $400,000, while eliminating it altogether for those with incomes exceeding $500,000.
