What is your Top Concern: Income Tax, Estate Tax, or Wealth Tax?
Legislative Update Focuses on Growing Wealth Tax Concerns, Tariffs, and Supreme Court Decisions
In the recent quarterly Legislative and Political Update Webcast for Members and Supporters of Family Enterprise USA and Family Enterprise USA Action the spotlight was directed firmly on tariffs and recent Supreme Court decisions.
Key presenters during the webcast, held Feb. 26, included Pat Soldano, President, Family Enterprise USA and Family Enterprise USA Action, and Russ Sullivan, Mark Warren, and Aaron Cummings of government affairs and legal firm Brownstein in Washington, D.C.
Additional speakers, primarily focused on the wealth tax debates going on in California, were Brownstein’s Sacramento office tax experts Greg Hayes and Baltazar Cornejo.
During the live webcast, attendees were polled on two key issues affecting family-owned businesses and successful families. The questions and results were as follows:
Q: Do you think that you, your family, or your businesses could be affected by a national or state wealth tax?
- Yes: 82%
- Unsure: 18%
Q: Has you or your businesses been impacted by tariffs?
- Yes: 58%
- No: 25%
- NA: 17%
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As we prepare for what promises to be a pivotal year for America, we're asking you to consider becoming a member.
The need for fact-based reporting of issues important to family owned businesses and protecting a lifetime of savings has never been greater. Now more than ever, successful families and family owned businesses are under fire. That's why Family Enterprise USA is passionately working to increase the awareness of issues important to family owned 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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