Happy Wednesday! In this week’s Big I Buzz: the U.S. Senate passes the "One Big Beautiful Bill Act." Plus, how auto insurers can safeguard drivers against predatory tows.

Big "I" Secures Important Win as Senate Passes Tax Package

The Big “I” is celebrating a significant legislative victory as the U.S. Senate passed the “One Big Beautiful Bill Act” on Tuesday, July 1. This comprehensive tax package includes critical reforms and would make many provisions of the 2017 Tax Cuts and Jobs Act (TCJA) permanent.

Most notably, the bill would preserve the 199A deduction for pass-through entities, keeping it at the current 20% rate. According to the 2024 Agency Universe Study, 86% of independent insurance agencies are structured as pass-through entities and file taxes at the individual rate—making this a meaningful win for Big “I” members. Read more here.

How Auto Insurers Can Safeguard Drivers Against Predatory Tows

While most towing professionals operate with integrity, a small number take advantage of drivers in distress. These bad actors use deceptive tactics like impersonating legitimate businesses, quoting low prices only to inflate them later, towing without consent, or charging for unnecessary services.

Insurers can help protect policyholders by connecting them with trusted roadside assistance programs—an effective way to shield drivers from potential fraud. Read more here.

For more news, check out the Action News section of our weekly e-newsletter, Big I Buzz. If you aren’t subscribed, click here to add your email to our emailing list.