Government Relations Update

Submitted by Abbey Hudson on Mon, 06/19/2017 - 15:23

This week the NSSTA Board of Directors, led by President Jim Early, will be meeting with Senator Mike Crapo of Idaho and Congressman Kevin Brady of Texas. Congressman Brady serves as the Chairman of the House Ways and Means Committee, as well as the Chairman of the Joint Committee on Taxation. This will be NSSTA’s second meeting with Congressman Brady. NSSTA member Chris Shumate has also been invited to attend the meeting and introduce Congressman Brady. Chris lives and works in the Congressman’s Congressional District.

Senator Crapo serves as the Chairman of the Senate Banking Committee and is a senior Republican Member on the Senate Finance Committee.  NSSTA member John Vaclavik will also be in attendance – John lives and works in Idaho and has a strong political relationship with the Senator.

The Board of Directors and NSSTA members in attendance will be discussing recent cases they’ve worked on, the value of structured settlement plans and the work that NSSTA members do to assist injured people live with economic security, dignity and respect. They will also highlight how industry members - life companies, attorneys, claims professionals and consultants - work together to help injury victims and their families.

Maintaining relationships with legislators, and bringing awareness to the benefits of structured settlements, is one of the key goals of the NSSTA organization. With Congress getting ready to consider major reforms to the Federal Tax Code, NSSTA leaders will take advantage of the meetings with Senator Crapo and Congressman Brady to highlight the importance of maintaining IRC Sections 104(a) or 130 in any final tax reform bill approved by Congress. Ongoing government education is an important goal to ensure that injury victims and their families continue to benefit from structured settlements. Lawmakers like Senator Crapo and Congressman Brady, serving on committees that are critical to tax reform, are willing to learn about the value that structured settlements can bring when used as part of a comprehensive settlement plan.

We encourage all NSSTA members to build strong relationships with their state and local elected representatives, and to participate in government education whenever possible. You can find the name of your Congressional Representative at USA.gov. If you have any questions about how you can support NSSTA initiatives and outreach, please call 202-289-4004 or visit www.nssta.com.