On the Hill

This week, tax conferees in the U.S. House of Representatives and U.S. Senate agreed in principle on the final version of tax reform legislation.

Earlier this week, the Big “I” urged Congress to provide relief from the impending 40% “Cadillac” tax on employer-sponsored health coverage before the end of this year.

This week, the U.S. House of Representatives Financial Services Committee voted on bipartisan legislation that would require international insurance negotiations to be consistent with U.S. state and federal insurance law.

Early Saturday morning, the U.S. Senate voted 51-49 to pass a wide-ranging tax reform bill, following passage of similar legislation by the U.S. House of Representatives in November.

As of press time, the NFIP is expected to receive a two-week extension this Friday as part of a continuing resolution Congress is predicted to pass to fund the government through Dec. 22.

Last week, the U.S. House of Representatives introduced legislation to fully repeal the Federal Insurance Office.

Early Saturday morning, the U.S. Senate voted 51-49 to pass a wide-ranging tax reform bill, following passage of similar legislation by the U.S. House of Representatives in November.

Earlier this week, the U.S. Senate voted 52-48 along party lines to begin debate on tax reform legislation. Senate Republican leaders are hopeful they will be able to pass the legislation before the end of the week.

The changes include a new certification date, and will allow farmers to choose a unit structure based on their risk management needs. Farmers must meet conservation compliance standards to receive Federal Crop Insurance Program subsidies and purchase adeq

While the fiduciary rule remains the law of the land, the Department of Labor this week confirmed an 18-month delay for key portions of the rule—creating more time for the DOL to make anticipated changes.