SSP and NSSTA 2010 Annual Meetings - 5

One of the highlights of the NSSTA 2010 Annual Meeting was witnessing NSSTA's lobbying strategy and the resulting association contacts between NSSTA members and members of Congress and their staffs.

NSSTA, and the structured settlement industry, have benefited historically from its two primary lobbyists - James Corman (now deceased) and Eric Vaughn (NSSTA's new Executive Director). Vaughn's lobbying expertise and leadership were featured during NSSTA's 2010 meeting in Washington.

NSSTA's political capital and relationships with Congress, especially the Senate Finance and House Ways and Means Committees, are strategically important for the structured settlement and settlement consulting industries. Last week in Washington, D.C.,Congressman after Senator after Congressman swore his allegiance to structured settlements during the NSSTA meeting in the political context of increasing federal financial deficits, the 2010 elections and anticipated 2011 tax reform.

Congressman David Camp, a Republican from Michigan and the ranking Republican on the House Ways and Means Committee, offered the most concise legislative endorsement of structured settlements. Camp stated: "With tax reform, everything is on the table. But structured settlements are not on the table. Congress has a long history of support for structured settlements on a bi-partisan basis. Don't expect much debate over structured settlements."

Congressman Sander Levin, a Democrat from Michigan who chairs the House Ways and Means Committee, also endorsed structured settlements stating: "there is no need for concern of someone trying to change the tax laws in the middle of the night to negatively impact structured settlements".

In addition to presentations by, and receptions with, numerous members of Congress, NSSTA's lobbying strategy featured coordinated Capital Hill meetings by NSSTA members with individual members of Congress and their staffs.

By comparison with NSSTA, SSP's lobbying is restricted and focused upon single claimant 468B qualified settlement funds. SSP does not retain a registered lobbyist on a continuing basis.

S2KM reporting about the SSP and NSSTA 2010 Annual Meetings:

• Part 1 - topics and speakers.
• Part 2 - S2KM's strategic perspective - before the meetings.
• Part 3 - NSSTA and SSP leadership changes.
• Part 4 - awards and recognition.
• Part 5 - NSSTA's lobbying strategy - this post.