An increase in income tax rate means you'll pay a higher percentage of your income to the government. This directly reduces your disposable income, the money you have left after taxes for spending or saving. This can make it harder to afford basic necessities, save for retirement, or invest in your future.
Today, Americans from coast to coast are heading to the polls to bring the 2024 election cycle to a close.
While the final outcomes for the presidency and congressional control may take a few days to confirm, attention is already centered on critical swing states expected to shape the results. For instance, both parties are carefully tracking voter turnout and exit polls in Omaha, Nebraska—a key battleground for a House seat that could also influence the Electoral College.
Dive into today’s Election Day Edition of “Elections Edge” to get the latest forecasts for the White House, Senate, and House races, notable poll closing times, and insights from former Speaker of the House John Boehner and former Secretary of Transportation Rodney Slater.
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The need for fact-based reporting of issues important to multi generational businesses and protecting a lifetime of savings has never been greater. Now more than ever, multi generational businesses and family businesses are under fire. That's why Family Enterprise USA is passionately working to increase the awareness of issues important to generationally-owned family businesses built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates, possible elimination of valuation discounts, increase in capital gains tax, enactment of a wealth tax, and the continued burden of the gift tax, estate tax and generation skipping tax.
Family Enterprise USA promotes generationally owned family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington DC. Since 2007, Family Enterprise USA has represented and celebrated all sizes, professions and industries of family-owned enterprises and multi-generational employers. It is a bi-partisan 501.c3 organization. Family foundations can donate.
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