NAIFA Disappointed White House Budget Targets Life Insurance Industry

NAIFA issued the following statement on the White House budget proposal by NAIFA President Juli McNeely:
"Most of the tax proposals in this year's budget appear to be repeats from past budgets. NAIFA is disappointed, but not surprised, that the Administration targets tax increases on the life insurance industry.

"Americans need public policy that continues to encourage them to plan ahead, protect their families' financial security and adequately save for retirement. Well prepared families will have adequate retirement savings accounts, life insurance, medical insurance, and guaranteed income annuities to supplement social security benefits. With the strain on federal entitlement programs as well as on state and local programs, now is not the time to make it more difficult or more expensive for families to plan for their long-term financial needs.

"NAIFA will continue its efforts to explain the importance of life insurance products to the financial and retirement security of 75 million American families. In addition to individual meetings, NAIFA members from every state will collectively meet with their lawmakers during the May 19-20 Congressional Conference."
  • Posted February 2, 2015 IN

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