Policy analysts inside the Beltway have been pouring over President Obama's $3.78 trillion budget for 2014 that was released on Wednesday. The intense analysis of who wins and loses in his proposal is also being thoroughly dissected by people well outside of Washington D.C.
According to Bill Newton, the Tampa based head of the Florida Consumer Action Network (FCAN), the president's budget disappoints when it comes to "a lack of a tax deduction for reinsurance premiums paid to foreign affiliates by domestic insurers."
What exactly does that mean? Newton elaborates:
This article appears in Apr 11-17, 2013.