Return to NOCA News Front page news

By Stacey Moye
Senior Manager, Government Relations

The federal election season has already heated up to the boiling point. In addition to electing a new president in 2008, 35 U.S. Senators and all 435 members of the U.S. House of Representatives will have their names on the ballot. 

As of this writing, U.S. Senator John McCain (R-AZ) has cemented his position as the Republican nominee for president. With other GOP candidates cleared from the competition, McCain is now free to focus on the general election in November and on finding a running mate.

Senators Barack Obama (D-IL) and Hillary Clinton (D-NY) continue to fiercely battle over the Democratic nomination. It appears as though there may not be a decisive victor for the Democratic nomination until the party’s convention takes place during the summer. 

Democrats are bullish on their chances for increasing their numbers in Congress as well as having a good shot at taking the White House. The GOP has 25 open seats in the House and five open seats in the Senate to hold. Democrats feel they have excellent opportunities to take all of the open Senate seats and pick up several seats from vulnerable incumbents in Alaska, Minnesota, and New Hampshire. The GOP is eyeing pickups in the Senate in Louisiana and South Dakota and is hoping to knock-off first term Democrats who won in Republican-leaning districts in 2006. 

With the focus on the elections, work on legislation involving occupational certifications is moving slowly. Senior Hill staff indicates that the Workforce Investment Act will not likely be reauthorized in 2008. 

There is slight movement on veteran’s benefits. S. 22, sponsored by Senator Jim Webb (D-VA), which appears to be making some progress. The bill, the Post-9/11 Veterans Educational Assistance Act, is a complete update of Montgomery G.I. benefits for veterans and includes provisions that would continue to allow the use of Montgomery G.I. benefits to pay for occupational certifications. A companion measure, H.R. 2702, was sponsored by Rep. Bobby Scott (D-VA). NOCA supports these efforts and has encouraged lawmakers to co-sponsor these bills.

We are supportive of S.22/H.R.2702. Under the direction of NOCA’s Government Affairs Committee, chaired by David Rozsa of the National Concrete Masonry Association, NOCA is sending letters to Senators and Representatives requesting that they sign on as cosponsors of the bills.

There is also interest in the House in updating Montgomery G.I. benefits. The House Veterans Affairs Committee held several hearings on the issue. NOCA submitted hearing testimony and met with senior Hill staff on this issue and continues to emphasize the need to promote the certification benefit more widely. There also appears to be interest in perhaps expanding the benefit to include payment for preparatory courses for credentialing exams. 

The issue of protecting senior citizens from financial advisors with flimsy or fraudulent credentials continues to attract attention at the federal and state levels.  Senators Herb Kohl (D-WI) and David Vitter (R-LA) recently introduced the Senior Protection Act, which would encourage states to adopt uniform standards for the accreditation of senior financial advisors.  NOCA’s Government Affairs Staff met with Senator Kohl’s staff last year on this issue and will continue to monitor any developments.

The North American Securities Administrators Association (NASAA) just announced a new model rule prohibiting the use of misleading senior and retiree designations.  NOCA submitted comments on the draft rule last year.  We are pleased to report that the NASAA model rule requires NCCA accreditation. 

States such as California are looking into regulating financial advisors who wish to work with the elderly population.  NOCA submitted comments regarding AB 2150, a measure that would regulate senior financial advisors, to the bill’s sponsor, Assemblywoman Patty Berg.  Missouri’s Secretary of State has indicated an interest in regulating in this area as well.

NOCA continues to track these and other issues affecting the credentialing community in our legislative and regulatory report.  Testimony and comments that NOCA has submitted to various states, Senate, and House committees are available to members by clicking here.