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Rep. Cantor Addresses PIA Federal Legislative Summit Kickoff Breakfast

WASHINGTON, April 3, 2003 - The 20th annual Federal Legislative Summit of the National Association of Professional Insurance Agents (PIA) got underway today in Washington,...
April 3, 2003

WASHINGTON, April 3, 2003 - The 20th annual Federal Legislative Summit of the National Association of Professional Insurance Agents (PIA) got underway today in Washington, D.C.

PIA members from around the nation are meeting with Members of Congress to discuss key issues of importance to professional insurance agents.

Rep. Eric Cantor (R-Virginia), Chief Deputy Majority Whip in the House of Representatives, provided a legislative update to PIA members during a keynote address at the start of the summit. Cantor, who is serving his second term, holds the highest appointed position in the House Republican leadership. He also serves on the powerful tax-writing Ways and Means Committee.

Rep. Cantor discussed issues ranging from proposals calling for optional federal charters for insurance, this year's upcoming reauthorization and possible reforms to the Fair Credit Reporting Act (FCRA), privacy proposals and a bill (H.R. 1222) that would allow for accelerated depreciation in the amortization of assets.

"Members of the National Association of Professional Insurance Agents provide insurance for millions of families that depend on them for security and stability.  We here in Congress are committed to ensuring that there is a climate for businesses to continue to thrive, because a healthy insurance industry is essential to the vitality of local communities across the nation," Rep. Cantor said.

"It is your customers, your clients and your businesses that create the jobs in this economy -- it's not the government," Cantor added.  "What we can do is be a catalyst.  We can provide an environment in which your customers and clients will have the incentive to invest.  In this regard, the President has put forward his growth package, the centerpiece of which is abolition of the double taxation on dividends."

Rep. Cantor told the PIA members that the history of Virginia's Seventh Congressional District, which he represents, holds special significance.

"This is a seat that was once held by James Madison," he noted.  "That's a very humbling thought when you walk through these marble halls and you realize that one of your predecessors was somebody of that stature.  All of our Founding Fathers who conceived of this incredible social experiment of representative democracy believed in the rights of individuals, they believed in free markets and to the utmost, they believed the government belongs to the people." 

"That's what you're doing here today.  I commend you for it and I look forward to working with all of you.  Best of luck on the Hill," Rep. Cantor concluded.

The 2003 PIA Federal Legislative Summit is a gathering of PIA members from across the nation.  It is a one-day legislative "fly-in" by PIA members who spend a day lobbying their elected representatives in their Capitol Hill offices.  On the evening of April 3, the Professional Insurance Agents Political Action Committee (PIAPAC) holds its annual PIAPAC Fundraising Dinner.  Congressman Chip Pickering (R-Mississippi) is the keynote speaker for the PIAPAC event.

Founded in 1931, PIA is a national trade association that represents member insurance agents and their employees who sell and service all kinds of insurance, but specialize in coverage of automobiles, homes and businesses.