The Inaugural Meeting of the Congressional Structured
Settlement Caucus took place on Wednesday, March 5 on Capitol Hill in
Washington, D.C. The formation of the Caucus confirms that Congress recognizes
structured settlements as an effective means to help injured parties put their
lives together in a safe and secure manner. Christine Buechner, along with her
fellow members of the National Structured Settlements Trade Association (NSSTA)
Board of Directors, has been working closely with members of the House Ways
& Means Committee to ensure IRC Sections 104 and 130 remain protected
during the most recent tax reform. The Caucus will greatly assist in supporting
this effort.
Active in NSSTAPAC over the past several years, Christine
has worked to educate the members of the House Ways & Means Committee and
the Senate Finance Committee about the value of this important tax-free benefit
to injured Americans. “With tax reform efforts in full swing, the Caucus could
not have come at a better time. While many opportunities for increasing budget
revenue exist, taxing structured settlements is not one of them.” Congressman Jim Sensenbrenner, R-Wisconsin, one of the
Co-Chairs of the Congressional Structured Settlement Caucus, welcomed
Congressional staffers, disability organization leaders and structured
settlement industry leaders to the Caucus meeting stating, “this Congressional
Structured Settlements Caucus has been established to highlight one of
Congress’ great bipartisan policy successes during the past 30 years.” Mr.
Sensenbrenner continued, “this bi-partisan Caucus is committed to help educate
the Congressional community about the important role that structured settlements
play in assisting injured victims to live their lives with economic security, confidence
and dignity after a serious physical injury.”
Caucus Chairman and Congressman John Lewis, D-Georgia,
stated, “structured settlements have always enjoyed strong bipartisan support
in the U.S. Congress—for one very simple reason—structured settlements work to
help injured victims live their lives with security and confidence.” Mr. Lewis
said, “My good friend Congressman Jim Sensenbrenner and I organized this Caucus
to help educate Members of Congress and Congressional staff on the importance
of structured settlements.”
Congressman Lewis added, “Thirty years ago, Congress acted
to encourage the use of structured settlements to enable injured victims to
live with dignity, free of reliance on Government benefit programs and with
financial security. Structured settlements constitute a private sector funding
alternative to taxpayer-financed assistance programs to meet the ongoing, long-term
medical expenses and basic living needs of seriously injured victims and their
families, providing long-term financial security through an assured stream of
payments tailored to the victim’s needs throughout his or her lifetime.”
Congressman Jim Langevin, D-Rhode Island, a Member of the
Caucus, stated, “When I was a young man my life was changed forever when a
police officer’s gun accidently fired and severed my spine. Without the
tremendous moral support of my family and the economic security that came from
my structured settlement, I would never have gone to college, never been
elected to the Office of Secretary of State in Rhode Island and never been
elected to Congress. I know firsthand what it means to have your life shattered,
but I also know what it means to have the confidence and the security that comes
from knowing your medical bills and health care costs will be paid for on time
for the rest of your life.”
Fred Maahs, Chairman of the American Association of People
with Disabilities and Vice Chairman of the NBS/Universal Foundation made the
following statement at the inaugural meeting of the Structured Settlement
Caucus. “With the American people clamoring for common-sense solutions to
serious problems, structured settlements stand out as a shining success. It is
a clear-cut example of Congressional policy working as intended to protect the
long-term economic security and health of accident survivors and avoid the need
for public assistance.”
Tony Coelho, former Member of Congress and former Chairman
of the AAPD, commented “I am thrilled to be here today with two of the finest
and most respected Members of Congress—Congressman Jim Sensenbrenner and
Congressman John Lewis—I served with both men here in Congress and both are
champions on issues important to people with disabilities.”
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