With the presidential election only a few weeks away, candidates are spending a lot of time and money to educate the public on their political agenda. Whoever is elected to the highest office in the nation, we can expect changes to occur in all areas of government. For NSSTA, tax reform is always an urgent issue. This is especially true in these times of large scale changes in our governing bodies. Protecting the income tax-free status of structured settlements is a priority that we focus on 365 days a year.
One of our biggest goals at NSSTA is to keep settlement payments income tax-free for victims of injury and illness. We work to accomplish this by educating our elected officials on the benefits of structured settlements. Through the efforts of NSSTA and our members we continue to build a team of advocates and allies that support the use of structured settlements as a tool for financial security.
As an organization, it is important to us that the value of structured settlements as part of a settlement plan is promoted and protected. Our entire membership works hard to ensure that once these settlement plans are in place for injury victims, they are not unraveled by companies using predatory tactics to target our claimants. The uphill battle we sometime face is made easier by our strong industry partnerships. Today we would like to highlight the partnership we have formed with the National Consumers League (NCL), and thank them for their contribution.
On March 23, more than 50 structured settlement industry leaders attended the 2016 American Association of People with Disabilities Leadership (AAPD) Awards Gala in Washington, DC. This year, 22 members of the National Structured Settlements Trade Association (NSSTA) contributed $80,000 to the AAPD.
On March 16 The Washington Post printed an editorial titled, “Maryland lawmakers should crack down on the structured-settlement industry to prevent the theft of poor people’s futures.”
At the start of every New Year, nearly everyone makes New Year’s Resolutions, identifying the things they want to achieve in the New Year and the goals they want to accomplish. At the end of last year, Michael Goodman, President of the National Structured Settlements Trade Association, announced his New Year’s resolutions for the structured settlements industry, in an article published on-line by Life Health Pro, on December 16, 2015.