From the Insurance Journal:

Californians would face $1.9 billion in higher insurance costs if Congress passes a border adjustment tax as part of federal tax reform, according to a study issued today by the R Street Institute and the Pacific Research Institute.

According to the authors of the study, this tax would make it “virtually impossible” for U.S. insurers to buy global reinsurance.

“As Congress prepares to consider structural changes to the U.S. tax code, proposals that target international reinsurance would have adverse consequences on the ability of Californians to affordable obtain coverage,” study authors Lars Powell, Ian Adams, and R.J. Lehmann, said in a statement.

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