American Council of Life Insurers: New IRS Guidance Is a Win for Employers, Workers and Families

WASHINGTON--American Council of Life Insurers (ACLI) President and CEO David Chavern made the following comments on new IRS guidance that implements the Paid Family and Medical Leave Tax Credit:

"Today's action by the IRS is a win for employers, workers, and families. This guidance makes it easier, especially for small businesses, to offer their employees paid family and medical leave to care for sick or injured family members.

"As leading providers of paid family and medical leave benefits, ACLI members welcome the Administration's guidance and thank Senators Deb Fischer and Angus King, and Representatives Randy Feenstra, Stephanie Bice, and Marie Gluesenkamp Perez for their leadership on this critical initiative. No one should have to choose between a paycheck and caring for themselves or a loved one. This credit will go a long way toward helping more Americans access paid leave benefits and the financial security they provide."

The American Council of Life Insurers (ACLI) is the leading trade association driving public policy and advocacy on behalf of the life insurance industry. 90 million American families rely on the life insurance industry for financial protection and retirement security. ACLI's member companies are dedicated to protecting consumers' financial wellbeing through life insurance, annuities, retirement plans, long-term care insurance, disability income insurance, reinsurance, and dental, vision and other supplemental benefits. ACLI's 275 member companies represent 94 percent of industry assets in the United States.

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