The Biden Administration is proposing the imposition of tax increases on businesses to pay for its proposed transportation and infrastructure plan. As part of this effort, the administration wants to repeal of the practice of stepping-up the basis for capital gains tax of assets transferred at death. This change would end the use of stepped-up …
Continue reading PIA Opposes Admin. Proposal to Raise Taxes on Business Assets
On May 18, the U.S. Senate Committee on Banking, Housing and Urban Affairs held a hearing on the reauthorization of the National Flood Insurance Program (NFIP). PIA submitted testimony in which we urged the Committee to pass a long-term reauthorization and highlighted several specific reforms we’re pursuing this year. The NFIP’s most recent five-year reauthorization …
Continue reading NFIP Hearing in Senate Banking Kicks Off Reauthorization Process
Last week, the Department of Labor (DOL) announced its decision to withdraw a planned revision of the regulation governing the definition of independent contractors. The withdrawal decision was made in response to the publication by the Wage and Hour Division of the DOL of a proposed final rule revising its interpretation of the definition of …
Continue reading Dept. of Labor Announces Withdrawal of “Independent Contractor” Definition Revision
The Paycheck Protection Program (PPP) was a key piece of the CARES Act, one of the first COVID relief laws passed last spring, now over a year ago. Administered by the Small Business Administration (SBA) and modified several times by Congress, the PPP offers forgivable loans to small businesses facing economic peril because of the …
Continue reading Paycheck Protection Program Largely Depleted
Emanuel Cleaver was elected to the United States House of Representatives in 2004 to represent Missouri’s 5th Congressional District . Before he was elected to Congress, Rep. Cleaver served for 12 years on the city council in Kansas City. He also was elected mayor of Kansas City in 1991 and served in that role for two …
Continue reading Member Spotlight: Rep. Emanuel Cleaver (D-MO)
The Secure And Fair Enforcement (SAFE) Banking Act, H.R. 1996, a PIA top priority, passed the U.S. House this evening by a vote of 321-101. The SAFE Banking Act would protect insurance agents and carriers from federal prosecution for doing business with cannabis-related enterprises in states in which such businesses are legal. The bill also makes …
Continue reading Cannabis Safe Harbor, PIA Top Priority, Passes House
PIA joined a coalition of allies earlier this week in sending a letter to the Wage and Hour Division of the Department of Labor (DOL), asking the DOL not to withdraw the final rule revising its interpretation of Independent Contractor Status, which was published on January 7, 2021 in accordance with the Fair Labor Standards …
PIA has released its 2021 Issues of Focus in preparation for its upcoming Advocacy Day, formerly known as the Federal Legislative Summit (FLS). PIA members will highlight these issues during their meetings with their elected representatives on Advocacy Day. PIA deploys its grassroots advocacy resources throughout the year on countless issues of importance to independent insurance agents. …
Continue reading PIA Releases 2021 Issues of Focus for Advocacy Day
On April 1, the Federal Emergency Management Agency (FEMA) unveiled changes, commonly referred to as Risk Rating 2.0, to the National Flood Insurance Program (NFIP). Risk Rating 2.0 is meant to provide more specific, accurate information about the flood risk associated with properties covered by the NFIP. Materials released by FEMA show that Risk Rating …
On March 9, the U.S. House passed H.R. 842, the Protecting the Right to Organize (PRO) Act, mostly along party lines, as expected. The PRO Act’s intention is to reform current labor law in a variety of areas. For PIA members, the bill’s most significant provision would amend the National Labor Relations Act (29 U.S.C. …
Continue reading Employment Status of Independent Agents Threatened
