Bill Introduced to Modify PFIC, Insurance Companies

February 10, 2020 Rep. Gwen Moore, D-Wis., introduced H.R. 5746 on Feb. 3 to amend the Internal Revenue Code of 1986 to provide special rules for purposes of determining if financial guaranty insurance companies are qualifying insurance corporations under the... Read more

Treasury Releases Final Loss Reserve Discounting Regulations

June 17, 2019 The Department of Treasury and the Internal Revenue Service unveiled the final regulations June 13 related to the Modification of Discounting Rules for Insurance Companies... Read more

NAMIC Pens Joint Trades Letter to Treasury and IRS on Base Erosion and Anti-Abuse Tax

February 25, 2019 NAMIC and the American Property Casualty Insurance Association submitted a letter to key Treasury and IRS officials Feb. 19 regarding the base erosion and anti-abuse tax, also known as the... Read more

NAMIC Meets With Treasury, IRS to Push for Tax Reform Rules

November 5, 2018 NAMIC met Oct. 31 with officials from the Treasury Department and Internal Revenue Service tasked with the implementation of the tax reform legislation that passed late last year. The changes to the tax code enacted as a part of the reform package... Read more

Senate Finance Committee Holds Hearing on Tax Reforms

April 30, 2018 The Senate Committee on Finance held a hearing April 24 to discuss early impressions of the Tax Cuts and Jobs Act, which was signed into law last December... Read more

Treasury to Repeal Hundreds of Tax Regulations

February 26, 2018 The Treasury Department proposed on Feb. 13 repealing 298 tax regulations, noting that the rules are unnecessary, duplicative or obsolete, and force taxpayers to navigate needlessly complex... Read more

Pennsylvania: Insurance Department Requests that Rate Filings Account for New 21% Federal Income Tax Rate

February 13, 2018 The Pennsylvania Insurance Department issued an informal email Feb. 13 requesting that trade associations notify their members that supporting information or exhibits included with rate filings... Read more

NAMIC Writes to Regulators Addressing CFA / CEJ Demand

February 1, 2018 NAMIC responded to irresponsible claims by the Consumer Federation of America and the Center for Economic Justice regarding tax reform with a Feb. 1 letter urging state insurance regulators... Read more

NAMIC Hails Passage of Historic Tax Reform Legislation

December 20, 2017 The National Association of Mutual Insurance Companies welcomed passage today of HR 1, the Tax Cuts and Jobs Act. “NAMIC applauds passage of HR 1, the Tax Cuts and Jobs Act, as the... Read more

How You Win a Tax Reform Debate

December 20, 2017 Well, they did it. President Donald Trump and the Republican-controlled Congress are passing a comprehensive tax reform package, marking the first major rewrite of the nation’s federal tax code in more than 30 years... Read more

Final Passage of Comprehensive Tax Reform Legislation This Week

December 18, 2017 Congress completed negotiations between the House and Senate Dec. 15 on final language for comprehensive tax reform legislation... Read more

House, Senate Conference Committee on Tax Reform to Meet This Week

December 11, 2017 With the U.S. House of Representatives passing tax reform legislation on Nov. 9 and the U.S. Senate passing its version on Dec. 2, the appointed members of a conference committee will meet Dec. 13 to work on reconciling... Read more

Senate Passes Comprehensive Tax Reform Legislation

December 4, 2017 The U.S. Senate passed its version of a comprehensive tax reform bill at 2 a.m. on Dec. 2 by a vote of 51-49. With Senate passage, the House and Senate will appoint members of a... Read more

Senate to Move Forward With Tax Reform

November 27, 2017 As Congress returns to Washington after its Thanksgiving week recess, the Senate plans to continue to work on comprehensive tax reform legislation. The Senate Finance Committee passed its bill on... Read more

Congress Still on Track for Passage of Tax Reform By Christmas

November 20, 2017 Read more

NAMIC Voices Support for Senate Tax Reform Effort

November 15, 2017 "NAMIC applauds the Senate Finance Committee for its efforts on this historic tax reform legislation. Property/casualty insurance is a key component of the economic structure of our country, and the reforms included in..." Read more

'Full Steam Ahead' on Tax Reform

November 13, 2017 The House of Representatives' Ways and Means Committee passed its comprehensive tax reform package, H.R. 1, Nov. 9 on a party-line vote. The action by the committee sets the stage for consideration by the full House this... Read more

Congress Forging Ahead on Tax Reform Bill

November 6, 2017 As reported on Nov. 2, the U.S. House of Representatives Committee on Ways and Means released its draft tax reform package, H.R. 1, the Tax... Read more

SPECIAL REPORT: House Releases Tax Reform Legislation

November 3, 2017 On Nov. 2, the U.S. House of Representatives Committee on Ways and Means released its draft tax reform package, H.R. 1, the Tax Cuts and Jobs Act. This is an important step toward completing comprehensive reform of the... Read more

Democratic Approach to Tax Reform

October 23, 2017 As tax reform continues to heat up, here is some insight into how congressional Democrats are viewing the issue. Without a doubt Democrats were poised to attack the president’s tax... Read more

House Expected to Pass Senate-Passed Budget Resolution to Move to Tax Reform

October 23, 2017 The Senate passed a 2018 budget resolution Oct. 19 by a vote of 51-49. As NAMIC reported last week, this represents another step toward Congress taking up and passing a comprehensive tax reform package... Read more

To Get to Tax Reform, Congress Must Pass Budget

October 16, 2017 Comprehensive tax reform has been -- and remains -- the top legislative priority for Republican leadership in the House and Senate, as well as for President Donald Trump. And given the highly... Read more

Tax Reform Takes Center Stage

October 9, 2017 Tax reform has officially moved to the front burner. Almost all the buzz in Washington has been focused on tax reform since the administration released its outline Sept. 27... Read more

‘Big Six’ Releases Tax Reform Plan

October 2, 2017 The “Big Six” – the name given to Speaker of the House Paul Ryan, Chairman of the Ways and Means Committee Kevin Brady, Majority Leader Mitch McConnell... Read more

NAMIC Opposes RRG Bill That Creates Unlevel Regulatory Playing Field

October 22, 2015 WASHINGTON, D.C., Oct. 22 – The National Association of Mutual Insurance Companies voiced strong opposition to legislation introduced Oct. 21 that would needlessly expand the ability of risk retention groups to offer coverage already available but witho... Read more

Congressmen Set to Introduce Legislation Expanding Risk Retention Groups

October 19, 2015 Reps. Dennis Ross, R-Fla., and Ed Perlmutter, D-Colo., will be introducing legislation this week that would seek to amend the Liability Risk Retention Act of 1986 to allow risk retention groups serving nonprofits and educational institutions to offer co... Read more

Congressmen to Introduce Legislation Expanding Risk Retention Groups' Ability to Offer Insurance

September 25, 2015 Reps. Dennis Ross, R-Fla., and Ed Perlmutter, D-Colo., will be introducing legislation as early as this week that would seek to amend the Liability Risk Retention Act of 1986 to allow risk retention groups serving nonprofits and educational institutions... Read more

NAMIC to Testify as House Panel Considers Insurance Legislation

May 12, 2014 A NAMIC representative will be testifying at a May 20 House Financial Services Committee hearing on five bills and discussion drafts regarding insurance issues. Among two discussion drafts that could be introduced as legislation is the Insurance Data Pr... Read more