It’s exciting to once more be a part of this great event. The NAIFA Congressional Conference brings together the most dedicated agents and advisors in the country to advocate on behalf of your businesses, your colleagues and your clients.
As many of you know, and our Conference first-timers will soon find out, it is a thrill to play an active part in our great nation’s democratic process. Members of Congress benefit from your expertise on our industry. They welcome your insights into how you and your colleagues help secure the financial futures of 75 million American families.
Most importantly, you help shape policy! At last year’s Congressional Conference, you came to Washington and told your senators and representatives how the current tax treatment of life insurance is crucial to your clients. Our leaders listened.
This year, House Ways and Means Committee Chairman Dave Camp proposed a comprehensive tax reform plan. The President, as he does each year, proposed a federal budget.
Neither of these proposals includes new taxes on the inside buildup or death benefits of life insurance or annuity products. You can thank yourselves for that. Grassroots advocacy works!
Yet, we are not out of the woods. The Camp draft does include $583 billion worth of changes to the tax code that would directly or indirectly impact the insurance industry. And not in a favorable way.
In just a few minutes NAIFA’s talented Government Relations team will talk to you about the Camp proposal and other decisions looming on Capitol Hill that will affect you and your clients at home.
Your involvement tomorrow and moving forward will help influence the outcome of these decisions. I thank so many of you for volunteering your time and working for this common good.
Thank you for joining us. Thank you for participating in this democracy. We will be going to the Hill, as one voice speaking to lawmakers from all 50 states. We will tell our story. And we will be noticed.
Finally, I would like to thank our state associations for their help in making this Conference a success. Please join me in acknowledging their efforts.