Congressman Ted Budd is serving his second term in the U.S. House of Representatives and represents North Carolina’s 13th Congressional district.
Rep. Budd is unique in that he never held elective office before his election to Congress. He holds an MBA from Wake Forest University and a Masters in Leadership from Dallas Theological Seminary, and he is a businessowner.
Why He’s Important to Agents
Rep. Budd sits on the House Financial Services Committee, which has jurisdiction over most insurance issues. He has been an active member on insurance issues that are important to PIA National and independent agents. Rep. Budd has been a notable early cosponsor of legislation to repeal the Federal Insurance Office (H.R. 1862), a key priority for PIA National. The congressman is also a cosponsor of PIA-developed legislation to make permanent the 20 percent tax deduction for insurance agencies that organize as passthroughs (H.R. 216).
In addition, in the House Financial Services Committee, Rep. Budd voted in favor of the legislative package to reauthorize and reform the National Flood Insurance Program (NFIP). The congressman also voted in favor of House legislation to repeal the Cadillac Tax and reauthorize the Terrorism Risk Insurance Act (TRIA) program.
PIA National will continue to work with Rep. Budd throughout the remainder of this Congress to advance issues important to independent agents.