National Association of Insurance and Financial Advisors

Senate Starts ACA Repeal and Replace Effort

January 13, 2017

One of the first items on the Congressional agenda this month was to start the process of repealing and replacing the Affordable Care Act (ACA). The effort began on January 4 when the Senate started debate on a fiscal year (FY) 2017 budget resolution (S. Con. Res. 13). The budget resolution instructs four Congressional committees (Senate Finance and Health, Education, Labor and Pensions; and House Ways & Means and Energy & Commerce) to write ACA repeal legislation by January 27. By January 13...

115th Congress Hits Ground Running

January 13, 2017

The 115 th Congress convened on January 3, and immediately began work on implementing a conservative legislative agenda. GOP lawmakers are hopeful that with the all-Republican majority of the federal government they can enact most if not all of their priorities. Democrats vow to resist as much as possible.   Among these priorities that are important to NAIFA members and their clients are:   Tax reform : President-Elect Trump and the GOP-controlled Congress say that tax reform is ...

Rep. Wilson Introduces NAIFA-Backed Bill to Delay Fiduciary Rule Effective Date

January 13, 2017

On January 6, Rep. Joe Wilson (R-SC) introduced a bill that would delay the new fiduciary rule for two years. The rule’s current “applicability date” is April 10, 2017. Rep. Wilson said his Protecting American Families’ Retirement Advice Act would prevent implementation of the new rule until Congress and President Trump decide whether to kill or change the rule.   “This legislation will delay the implementation of this job-destroying rule, giving Congress and President-elect Donald Trump ...

First ACA Replace Bill Introduced in the House

January 13, 2017

Republican Study Committee (RSC) Chairman Rep. Mark Walker (R-NC) introduced the first Affordable Care Act (ACA) replacement bill on January 4. The American Health Care Reform Act (AHCRA) also repeals the ACA.   AHCRA would convert current tax benefits for employer-provided and self-employed health insurance into an above-the-line standard deduction for health insurance (SDHI). Those with a qualifying health plan would receive an SDHI of $7,500 (individuals) or $20,500 (families). The SDH...

House Approves Two Regulatory Reform Bills

January 13, 2017

The House has passed and sent to the Senate two regulatory reform bills—the Midnight Rules Relief Act and the Regulations from the Executive in Need of Scrutiny (REINS) Act.   On January 4, the House passed H.R.21, the Midnight Rules Relief Act, by a mostly partisan vote of 238 to 184. Four Democrats – Reps. Cuellar (TX), Gottheimer (NJ), Peterson (MN) and Sinema (AZ) voted for the bill; no Republican voted against it. The bill allows Congress to vote down (repeal) all end-of-Administrati...