The Senate Finance Committee's International Tax Reform Working Group, led by committee co-chairs Sen. Rob Portman (R-OH) and Sen. Charles Schumer (D-NY), this week published a final report concluding that the committee will “consider both sides’ arguments moving forward” in its treatment of foreign affiliate insurance. The Coalition for Competitive Insurance Rates (CCIR), a bipartisan insurance consumer coalition, responded with disappointed over the committee’s failure to dismiss existing protectionist measures as it relates to foreign reinsurers, but expressed cautious optimism that the possibility still exists for a more affirmative stance to be taken.
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