b'Life InsurersKeeping State Taxes StableAs states grapple with their budgets, consumers shouldnt have to pay the price. Make LifetimeWeve made it clear that any proposed tax on industry products ultimately boosts the financial insecurity of state residents. Guarantees Maintained tax stability for our products in Kentucky, Nevada, and Oregon by combatting measures to increase or alter the way our products are taxed.Ensured that the premium tax offset for guaranty fund assessments was preserved Our industrys productsin the 27 states enacting the latest amendments mandated by the NAIC. have guarantees thatRepealed the annuity tax in West Virginia. After years of advocacy, state lawmakers realized that a premium tax on the gross amount received from annuities only can last a lifetime. deters residents seeking to protect their futures with guaranteed lifetime income.Fighting For a Stable Corporate Tax RateThe market availability of long-term guarantees on our products depends on a stable corporate tax ratenot one that can be raised on a whim as Congress looks for ways to pay for more spending. Higher taxes can disproportionately prevent consumers in the low- and middle-income ranges from achieving adequate levels of financial protection or retirement savings. A lower corporate rate alone could help close the coverage gap by making critical products and services more affordable and accessible. ACLI2019 ANNUAL REVIEW 19'