On January 23, two bills backed by PIA were reintroduced in the 119th Congress. The Main Street Tax Certainty Act (H.R. 703/ S.1149), sponsored by Rep. Lloyd Smucker (R-PA) and Senator Steve Daines (R-MT), would make permanent the 20% tax deduction available to some S Corporations, known as passthroughs. Without Congressional action, this important tax …
Continue reading Two PIA-Supported Bills Reintroduced in 119th Congress
On July 18, Congressman Lloyd Smucker (R-PA) introduced H.R. 4721, the “Main Street Tax Certainty Act of 2023,” which would make permanent the 20 percent tax deduction currently available to some passthrough entities. PIA strongly supports this legislation, and in advance of its introduction joined a coalition of business groups in a letter of support …
Continue reading PIA-Backed Main Street Tax Certainty Act Reintroduced in House
On May 18, Senator Steve Daines (R-MT) reintroduced the “Main Street Tax Certainty Act of 2023,” a bill that would make permanent the current 20 percent tax deduction available to some passthrough entities. PIA strongly supports this legislation and joined a coalition of business groups in a letter of support for the bill. PIA's support for the bill was noted …
Continue reading PIA-Backed Main Street Tax Certainty Act Reintroduced in Senate
Members of the PIA of Wisconsin met this week with members of their Congressional delegation on a number of PIA’s 2022 Issues of Focus: the dangers of federal regulatory overreach into the insurance industry and the need to repeal the Federal Insurance Office (FIO), the importance of making the 20 percent tax deduction for passthrough …
Continue reading PIA Wisconsin Advocates for 2022 Priorities
PIA members from Wyoming met with the offices of their congressional delegation this week as part of PIA’s 2022 series of year-round, state-specific advocacy events. In their meetings, agents drew lawmakers’ attention to several of PIA’s 2022 Issues of Focus: the dangers of federal regulatory overreach into the insurance industry and the need to repeal the Federal Insurance …
Continue reading Wyoming PIA members Advocate on Tax, Flood, and FIO Repeal
This week, members of the PIA of Michigan met with the offices of their congressional delegation as part of PIA’s 2022 series of year-round, state-specific advocacy events. In their meetings, the PIA of Michigan members drew lawmakers’ attention to several of PIA’s 2022 Issues of Focus: the dangers of federal regulatory overreach into the insurance industry …
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 passthrough 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. …
Continue reading PIA Objects to Attempts to Reduce or Repeal Passthrough Tax Deduction
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 February 25, Reps. Jason Smith (R-MO) and Henry Cuellar (D-TX) and Senator Steve Daines (R-MT) introduced the “Main Street Tax Certainty Act of 2021,”(H.R. 1381/S.480) a bill that would make the current 20 percent tax deduction available to passthrough entities permanent. PIA strongly supports this legislation and is working with a coalition of business …
Continue reading PIA Priority, Permanent Tax Relief for Passthrough Entities, Introduced
