Press Secretary Jay Carney said that tax reform designed to net the government approximately $580 billion will be part of the President’s plan.
NAIFA members today are telling members of Congress that lawmakers and the administration face a daunting challenge to get the federal deficit under control, but life insurance, annuities and retirement savings are part of the solution.
Life insurance products provide financial security for 75 million American families and account for 20 percent of long-term savings in the country. They provide a financial security blanket for many people who might otherwise look to the government for help.
“NAIFA’s Congressional Conference has come at the perfect time,” said NAIFA President Rob Smith. “Congress will be hearing a lot about the President’s budget proposal in coming days, but we’ve been fortunate enough to meet with 80 percent of congressional offices today to give them some context for the coming tax reform debate. Thanks to our dedicated members, members of Congress know exactly how important life insurance is to their constituents and the economy.”