Latest Breaking News On - மறுகாப்பீடு சங்கம் ஆஃப் அமெரிக்கா - Page 1 : comparemela.com

Biden Tax Plan Hits Global Reinsurance The bills for the Biden administration’s multi-trillion dollar American Jobs and American Families plans are expected to be footed by additional revenues generated by The Made in America Tax Plan [1]. A headline feature of the plan raises income taxes on the highest-earning American families, the 1.8 percent of households [2] earning over $400,000 per year. Taxes on the remaining 98.2 percent middle class and poor American families would be unaffected right? Wrong. A poorly-understood feature of the Biden plan penalizes the global reinsurance industry, which would make property insurance more expensive, especially for homes and businesses in Florida, where premiums are already rising steeply. The plan functionally introduces what may be viewed as a “hurricane tax:” raising corporate taxes and introducing new rules impacts international financial transactions, which increases the cost of reinsurance and adversely impacts primary insurer

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