The following is a current list of key legislative issues that NAILBA’s Government Affairs team is tracking (as of May 31, 2013).
At the beginning of 2013, Congress enacted legislation to avert a series of tax increases and spending cuts known as the "Fiscal Cliff."
The Fiscal Cliff debate was a precursor to a debate on reforming the tax code. This year, Congress is expected to examine every tax expenditure and "loophole" for cost savings and new revenue. House Ways and Means Committee Chairman Dave Camp (R-MI) has established eleven Tax Reform Working Groups within the Committee to review every aspect of the tax code and find ways to improve it, which would then be incorporated into proposed tax reform legislation.
NAILBA member agency principals should be concerned about the current tax treatment of the products they distribute. The following link examines NAILBA's position on possible changes to the tax code:
Implementation of Wall Street Reform and Consumer Protection Act of 2010
In the wake of market failures in the autumn of 2008, Congress and the Obama administration made it a priority to address real and perceived shortcomings in the regulation of U.S. financial markets. The result was the Wall Street Reform and Consumer Protection Act of 2010, more commonly known as "Dodd-Frank."
NAILBA believes that bad actors threaten the integrity of the financial markets and that a strong, common-sense regulatory framework is necessary to uphold the stability of the country's financial system. However, the following issue is of particular concern to NAILBA: