What Life and Health Players Still Want Out of Congress
March 31, 2020 by Allison Bell
Now that President Donald Trump has signed H.R. 748 — the $2 trillion Coronavirus Aid Relief and Economic Security (CARES) Act aid package — into law, life and annuity community are talking about what else they’d like to see Congress do.
Many groups have put out statements praising Congress for passing the CARES Act and the president for signing it.
Kevin Mayeux, the chief executive officer of the National Association of Insurance and Financial Advisors (NAIFA), says the final version of the act already contains many of the items NAIFA has been seeking.
“Small business loans to cover short-term payroll and other expenses, which could be forgiven at a future date; payroll tax exemptions; and relief from retirement-account withdrawal requirements and early withdrawal penalties have been at the top of NAIFA’s advocacy efforts and will be crucial to many NAIFA members and their Main Street USA clients,” Mayeux says in his statement.
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