II gives both sides in the debate over proposals to tax foreign affiliate reinsurance. It seems an ideal time, as the Neal Bill is expected to be discussed by lawmakers once again following the US Congressional mid-term elections in November 2010.
The coalition for competitive insurance rates vs the coalition for a domestic insurance policy
A bill is being discussed by US politicians that could result in a new tax on the foreign affiliates of US insurers.
The bill is proposed by Richard Neal, a Democrat member of the House of Representatives, who is an influential figure in economic policy due to his membership of the House Ways and Means Committee and his position as chairman of the Subcommittee on Select Revenue Measures.
Neal Bill, debate, domestic insurance, US, reinsurance, state insurance commissioners, CCIR