Member Spotlight: Rep. French Hill (R-AR)

French Hill was elected to the United States House of Representatives in 2014 to represent the 2nd Congressional District of Arkansas. Before he was elected to Congress, Rep. Hill worked as a commercial banker and investment manager for two decades. He also served during the administration of President George H.W. Bush in positions including Deputy Assistant …

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House Extends NFIP to March 11 as Part of Federal Funding Bill

The U.S. House passed a continuing resolution (CR) on the evening of February 8 by a vote of 272-162 to fund the federal government through March 11, 2022. A short-term extension of the National Flood Insurance Program (NFIP) is included in the CR. Funding for the federal government and authority for the NFIP are both …

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Cannabis Safe Harbor Passes House as Part of America COMPETES Act

The Secure And Fair Enforcement (SAFE) Banking Act, one of PIA’s top legislative priorities, was passed in the House of Representatives on February 4 by a vote of 222-210 after being incorporated into the America Creating Opportunities for Manufacturing, Pre-Eminence in Technology and Economic Strength (COMPETES) Act of 2022, a bill that aims to improve American competitiveness …

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House Extends NFIP to Feb. 18, 2022 in Continuing Resolution

The U.S. House tonight passed a continuing resolution (CR) by a vote of 221 to 212 to fund the federal government through February 18, 2022. A short-term extension of the National Flood Insurance Program (NFIP) is included in the CR. Funding for the federal government and authority for the NFIP are both still set to …

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PIA Objects to FIO Investigation of Climate-Related Insurance Risk

PIA has a long history of supporting the state regulation of insurance and opposing federal insurance oversight. Since 2016, one of our annual top legislative priorities has been the repeal of the Federal Insurance Office (FIO), which was created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Our advocacy was vital …

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House Passes Reconciliation Spending Bill

The U.S. House today passed H.R. 5376, the $1.75 trillion budget reconciliation bill which has been marketed by Democrats as the “Build Back Better Act.” If approved as-is by the Senate, the legislation will allocate roughly $1.75 trillion in spending over a 10-year period. The bill passed largely along party lines by a vote of …

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PIA Will Not Support Reintroduced Future Pandemic Legislation

Since the spring of 2020, when proposals intended to prepare for the economic consequences of a future pandemic began to emerge, PIA has been actively engaged with policymakers on this important issue. To that end, PIA supported the 2020 Pandemic Risk Insurance Act (PRIA), introduced by Rep. Carolyn Maloney (D-NY). That bill tried to make pandemic …

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PIA Requests Removal of Tax Reporting Provision from Reconciliation Package

PIA has been vocal in our opposition to a proposal in the current House reconciliation package that would impose a broad new tax information reporting regime on all bank accounts over a certain de minimis amount. The proposal would require financial institutions and other providers of financial services to track and submit to the Internal Revenue Service …

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Congress Seeks to Expand Federal Oversight to State Workers’ Comp Programs  

PIA strongly opposes a proposal that would expand federal oversight to potentially include state workers’ compensation programs. Recently, the House Education and Labor Committee, chaired by Rep. Bobby Scott (D-VA) passed the labor portions of the administration’s pending budget reconciliation package. It includes an allocation of $121 million to dramatically expand federal authority over the …

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House Passes NFIP Extension and Funding Bill

This afternoon, the House passed an amended version of H.R. 5305, the continuing resolution (CR) that will fund the federal government until December 3, 2021, by a vote of 254 to 175. Importantly for PIA members, this CR includes an extension of the National Flood Insurance Program (NFIP) until December 3. The Senate passed the …

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