PIA Opposes Harmful Tax Hikes

PIA joined two business coalitions recently in pushing back on proposals within the forthcoming $3.5 trillion reconciliation legislative spending package; the proposals PIA objects to would lead to major tax increases for small business owners. The House Ways and Means Committee began considering the package on September 9. It would raise individual and corporate tax rates, …

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FIO Seeks Comments on New Climate-Related Insurance Authority

As reported here, earlier this year, the Biden administration assigned new tasks to the Federal Insurance Office (FIO) via an Executive Order on Climate-Related Financial Risk that tasked both the FIO and the Financial Stability Oversight Council (FSOC), another Dodd-Frank creation, with assessing “climate-related issues or gaps in the supervision and regulation of insurers.” On August 31, …

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Member Spotlight: Rep. Ben Cline (R-VA)

Ben Cline was elected to the U.S. House of Representatives in 2018 to represent Virginia’s 6th Congressional District. Before he was elected to Congress, Rep. Cline was an attorney in private practice and a member of the Virginia House of Delegates for 16 years. He also served as Assistant Commonwealth’s Attorney for Rockingham County and …

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NFIP Continuous Coverage Bill Introduced

On July 27, Reps. Kathy Castor (D-FL), and Blaine Luetkemeyer (R-MO) reintroduced H.R. 4699, the Continuous Coverage for Flood Insurance Act. The bill would provide continuous coverage protection to policyholders who leave the National Flood Insurance Program (NFIP) to purchase a private flood policy and then need to return to the NFIP. This bill would …

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FIO Repeal Bill Introduced in House

PIA has been  leading the effort to repeal the Federal Insurance Office (FIO) for years. On July 30, H.R. 4866, the Federal Insurance Office Abolishment Act of 2021 was reintroduced in the 117th Congress with our strong support. The bill was introduced by Rep. Ben Cline (R-VA) and cosponsored by Rep. Tom Tiffany (R-WI). PIA also supports the Senate version …

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Senate Banking Subcommittee Turns Attention to Future Pandemic Risk Proposals

On July 22, the U.S. Senate Banking Subcommittee on Securities, Insurance and Investment held a hearing on “Examining Frameworks to Address Future Pandemic Risk.” PIA submitted testimony in advance of the hearing. If Congress legislates on this issue, PIA favors the use of a public-private partnership. In the past, similar steps have been taken to …

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PIA Sends Concerns on PRO Act to Senate

In advance of a hearing set to take place on July 22 in the Senate Health, Education, Labor and Pensions (HELP) Committee, PIA joined fellow insurance and financial trade groups in a letter to committee leadership expressing concerns about S. 420, The Protecting the Right to Organize (PRO) Act. The PRO Act would reform current …

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PIA Calls for Increased Funding for Flood Risk Mapping

PIA recently sent letters, along with a coalition of stakeholder groups, to U.S. House and Senate appropriators to advocate for a significant increase in funding for the Federal Emergency Management Agency (FEMA) flood risk mapping program in fiscal year 2022 (FY 2022). The flood risk mapping program funds federal flood mapping, which shows how likely …

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PIA Objects to Attempts to Reduce or Repeal Passthrough Tax Deduction

PIA recently joined a coalition of business groups to express our continued support of the 20-percent tax deduction for the qualified business income of qualifying passthroughs businesses, or S corporations. The 20 percent deduction was established by the 2017 tax reform law. PIA actively advocated for the passage of the 2017 tax bill (Public Law No. …

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PIA Opposes Narrowing “Independent Contractor” Definition for Unemployment Insurance

PIA is raising concerns about the draft legislative text of the Unemployment Insurance Modernization Act, which is being championed by Senator Ron Wyden (D-OR), Chairman of the Senate Finance Committee, and addresses unemployment insurance reform. Specifically, the discussion draft would require states to use the “ABC test” to determine whether a worker is considered an …

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