The regulation on how insurance producers offer annuities and life insurance was unanimously ruled “unconstitutionally vague” after a legal challenge spearheaded by Big I New York with assistance from the national Big “I.”
Most importantly for independent agents, the president’s plan does not call for any changes to the 20% tax deduction for small businesses. The plan is, however, expected to see several changes.
The Big “I” supports the legislation because it creates a “safe harbor” for agents and brokers who choose to do business with cannabis-related legitimate businesses.
Big “I” Chairman Jon Jensen presented the State of the Association address to Big “I” Virtual Legislative Conference attendees, offering hope and encouragement after what can only be described as a very difficult year.
Sen. Joe Manchin (D-West Virginia) encouraged congressional leaders to reach across the aisle to support America’s economic recovery and return Capitol Hill to its founding principles.
“Despite what you may see on Twitter, TV and on cable news with all the screaming and yelling, there’s still plenty of us that are focused on where we can get agreement and where we can find common-sense solutions,” Rep. Josh Gottheimer (D-New Jersey) sai
The legislation would reauthorize the National Flood Insurance Program (NFIP) for five years and clarify that private flood insurance can satisfy the NFIP’s continuous coverage requirements, a top priority for the Big “I.”
Sen. Rick Scott (R-Florida) discussed how federal overreach by the Biden administration will negatively impact small businesses and the economy’s recovery from the coronavirus pandemic.
The cost will be steep if the nation doesn’t unite and invest resources in solving critical problems, warned House Majority Whip James Clyburn (D-South Carolina).
Rep. Carolyn Maloney (D-New York) led the charge on an exemption for insurance agents and brokers from new onerous federal reporting requirements and was the primary sponsor of the Pandemic Risk Insurance Act.
