On the Hill

The NFIP is set to expire tomorrow, Friday, Dec. 22, unless Congress passes a continuing resolution to fund the government into early next year.

The U.S. Senate passed the legislation early Wednesday morning and the U.S. House of Representatives followed suit later the same day. President Trump is expected to sign the legislation into law in the coming days.

Late Friday, tax conferees in the U.S. House of Representatives and U.S. Senate released their final version of tax reform legislation.

On Friday, FEMA released a memorandum outlining procedures if there is a lapse in authority for the NFIP, which is currently reauthorized through Friday, Dec. 22.

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.