Client News
February 7, 2019

Wine Enthusiast’s 19th annual Wine Star Awards were held Monday night at the Nobu Eden Roc in Miami Beach. The black-tie gala honored innovators and stalwarts who are shaping the present and future of the wine, spirits and beer industry. The themes of the evening were stewardship of the land and support of women in wine.

An outdoor cocktail reception gave guests the opportunity to taste wines from various winners, as well as jamon brought by European Winery of the Year winner, González Byass, plus a daiquiri and a rum-based Old Fashioned riff by Spirit Brand of the Year winner, Diplomático Rum. The step-and-repeat, poolside setting and beachy backdrop presented plenty of good photo opportunities.

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Client News
July 10, 2018

Forbes | Jill Barth

There is a global movement to ensure that a wine's birthplace is clearly labeled on the bottle. According to Wine Origins, "when it comes to wine, location matters." This approach is officially supported by producer organizations around the world including Bordeaux, Champagne, Burgundy and 20 other distinct growing regions, all members of Wine Origins.

It's not only important to the producer, but also to the consumer. Based on a 2018 report conducted by GBA Strategies, Wine Origins revealed that "79% percent of consumers consider the region where a wine comes from an important factor when buying wine."

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Client News
March 28, 2018

Tom McInerney | Morning Consult

Long-term care insurance has been a valuable retirement protection tool for millions of Americans, having paid out billions of dollars to soften the blow of costly, and largely inevitable, long-term care events — typically when these Americans are beyond their income-earning years.  The unmistakable value of this insurance coverage notwithstanding, these insurance policies have also been plagued by a dated, governing regulatory regime that has resulted in billions of dollars of losses to carriers and high, double-digit premium increases for policyholders.

Genworth Financial knew there had to be a better solution, and we believe we’ve found it. We are working with a handful of state regulators with whom we hope to begin piloting — in the next few months — a promising new way to oversee long-term care insurance pricing that could make double-digit premium increases for new long-term care insurance policies a rare occurrence.

This new approach will behave similarly to homeowners, auto and health insurance, with premiums adjusted annually as claims experience and projections emerge, resulting in modest, single-digit increases or decreases, if needed. This is the polar opposite of the way long-term care insurance policies historically have been regulated, where carriers had to wait so long for actuarially justified increases that they incurred large losses and were forced to raise premiums by double, even triple digits. Although carriers are entitled to receive these actuarially justified rate increases when claims exceed the claims that were anticipated when the policies were priced, they are difficult for policyholders, carriers and state regulators to manage.

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Client News
October 4, 2017

Morning Consult | Tom McInerney

With every passing day, 10,000 more Americans turn 65, and many of these Americans and their families find themselves unprepared for the financial challenge that awaits them. Although the retirement savings crisis makes headlines, a long-term care crisis is also wreaking havoc on aging Americans, their families, and state Medicaid coffers.

Long-term care is linked to our nation’s overall retirement preparedness dilemma, yet it requires its own solutions and dedicated attention from lawmakers.

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Client News
September 21, 2017

Vital deduction supports middle class homeowners and public services that benefit all citizens such as K-12 schools, law enforcement and public safety, transportation and infrastructure

WASHINGTON, Sept. 21, 2017 -- Americans Against Double Taxation, a coalition comprised of state and local government organizations, education and other public service providers, and housing organizations, has come together to launch a robust campaign to preserve the state and local tax deduction (SALT) in any comprehensive tax reform proposal. The coalition, which successfully preserved SALT in the tax reform package signed by President Ronald Reagan in 1986, today sent a letter to the leadership of the House Ways and Means Committee and the Senate Finance Committee to urge them to ensure that Americans can continue claiming this vital deduction.

One of the six original federal tax deductions, SALT has been a staple of the federal tax code for over 100 years. Since 1913, SALT has helped support vital investments in infrastructure, public safety, homeownership and education and provided states and local governments with the financial flexibility to meet the needs of their constituents. SALT also prevents double taxation of Americans by allowing taxpayers to claim a deduction for the state and local taxes they have already paid from their incomes.

"We strongly believe that no federal law or regulation should preempt, limit or interfere with the constitutional or statutory rights of states and local governments to develop and operate their own tax systems to the benefit of their constituents," the coalition wrote. "States and local governments deploy revenues from state and local property, sales and income taxes to finance long term infrastructure projects, local law enforcement, schools, emergency and many other services. By eliminating the federal deductibility of these taxes, Congress would be shifting the intergovernmental balance of income taxation and could limit state and local control of tax systems."

More than 43 million American taxpayers claim the SALT deduction, making it the most popular deduction in the federal tax code.

  • SALT benefits the middle class. Nearly 87% of taxpayers who claim the SALT deduction have an adjusted gross income (AGI) under $200,000.
  • Taxpayers in all 50 states – in both Democratic and Republican congressional districts – claim SALT. Of the top 20 highest-SALT congressional districts, 45% have Republican representatives.
  • If Congress eliminates SALT, middle class homeowners will see their taxes increase. Homeowners that make between $50,000 and $200,000 would see an average tax increase of $815 – even if standard deduction is doubled.

The full letter and list of coalition members can be found here. For more information, visit AmericansAgainstDoubleTaxation.org, like Americans Against Double Taxation or follow @NoDoubleTax.

Americans Against Double Taxation will be co-managed by Bob Chlopak and Andrew Koneschusky, partners at CLS Strategies. Chlopak previously led the successful campaign to preserve SALT in the 1986 tax reform laws, working with many of the same groups who are coming together again to preserve this vital deduction.

About Americans Against Double Taxation
Americans Against Double Taxation is a coalition of state and local government organizations, service providers and other stakeholders dedicated to protecting the state and local tax deduction (SALT), a federal tax deduction claimed by 43 million American taxpayers that supports vital investments in infrastructure, public safety, home ownership and education. For more information, visit AmericansAgainstDoubleTaxation.org.