On the Hill

Yesterday, Congress passed the Disaster Recovery Reform Act, a new law aimed at improving America’s approach to disaster resilience.

The Farm Bill expired on Sunday, Sept. 30, leaving several agricultural, environmental and nutrition programs and initiatives in limbo.

This week, the Big “I” submitted a comment letter to the Department of Treasury and the Internal Revenue Service in support of a draft regulation issued earlier this year. Meanwhile, the IRS also issued transitional guidance about the 2017 tax law.

At press time, the U.S. House of Representatives is scheduled to vote this week on “tax reform 2.0” legislation. The package is expected to pass on a mostly partisan basis.

Last year, President Trump signed into law the widest-ranging tax reform legislation in decades. Learn more about how the new federal tax laws and regulations will impact your business during a free webinar hosted by the Big “I.”

For Big “I” members, the most important piece of this three-bill package is the “Protecting Family and Small Business Tax Cuts Act of 2018,” which would make the individual provisions of last year’s tax reform bill permanent.

Last week, President Trump signed an executive order that directs the Department of Labor and the Treasury Department to consider issuing new rules that would make it easier for businesses to offer retirement plans.

Last year, President Trump signed into law the widest-ranging tax reform legislation in decades. Learn more about how the new federal tax law and regulations will impact your business during a free webinar.

To help address perpetuation challenges faced by many of the nation’s privately held small businesses, the “Main Street Employee Ownership Act” was included in a larger legislative package enacted earlier this month.

This week, the Big “I” joined two other insurance associations in opposition of amendments to the Liability Risk Retention Act that would expand the types of commercial insurance that risk retention groups can offer to certain nonprofit organizations.