What is your Top Concern: Income Tax, Estate Tax, or Wealth Tax?
POTUS Signs EO on Affordable Home Construction: On Friday, President Trump signed an executive order (EO) to address regulatory barriers for affordable home construction. The EO includes using existing federal incentives to spur more homebuilding, especially in underserved areas. It directs the Treasury and Housing and Urban Development departments to align Opportunity Zone tax benefits with new single-family home construction, including evaluating ways to link grants, financing tools or other federal incentives to additional investment in Qualified Opportunity Funds that develop and sell homes in Opportunity Zones. Explore the Details.
JEC Republicans Release Issue Brief in Support of a BAT: On March 11, Republicans on the Joint Economic Committee released an issue brief regarding a border-adjusted business tax (BAT), arguing that shifting the U.S. tax base from production to consumption by denying deductions for imports and exempting exports would curb profit shifting and raise revenue without increasing tax rates. The report also discusses how a reform would function like a broad import tariff paired with an offsetting export subsidy, reduce incentives for U.S. multinationals to book profits offshore, and build on partial steps taken in the Tax Cuts and Jobs Act (TCJA) and the One Big Beautiful Bill Act (OBBBA). Explore the Details.
Lawmakers Pen Letter to Bessent, Wright and Rollins on Section 45Z Credit: On March 12, Sen. Joni Ernst (R-IA) and Rep. Mariannette Miller-Meeks (R-IA) led a letter to Treasury Secretary Scott Bessent, Energy Secretary Chris Wright and Agriculture Secretary Brooke Rollins regarding the proposed Section 45Z clean fuel production credit rules. The lawmakers asked the administration to quickly finalize section 45Z rules that clearly credit a broad set of agricultural conservation practices, fully integrate a farm‑level feedstock calculator and new manure renewable natural gas pathways into the GREET model, and adopt a “Book‑and‑Claim” accounting framework instead of mass balance. Explore the Details.
Whitehouse, Khanna Introduce the Big Oil Windfall Profits Tax Act: On March 17, Sen. Sheldon Whitehouse (D-RI) and Rep. Ro Khanna (D-CA) reintroduced companion versions of the Big Oil Windfall Profits Tax Act. The bill would impose a 50% per-barrel tax on excess profits for large oil companies (defined as producing or importing 300,000 or more barrels/day) and would exempt smaller producers. Explore the Details.
Lawmakers Prepare Legislation Disapproving of DSTs: At an event earlier this week, Rep. Ron Estes (R‑KS) said House lawmakers plan to reintroduce a bipartisan resolution opposing digital services taxes (DSTs). Rep. Estes also warned that the United States could use tools like trade and counter‑tax measures to defend U.S. firms against DSTs, which a growing number of countries are considering as a means of taxing profits of predominantly U.S. technology companies that have a strong customer base in a country without a significant physical presence in the country to support taxation through traditional tax principles. Explore the Details.
Treasury Department to Reevaluate Basis-Shifting Oversight: Following the Treasury Department’s proposal to repeal the partnership basis-shifting regulations earlier in March, Assistant Treasury Secretary for Tax Policy Ken Kies emphasized that the Treasury Department still plans to pursue oversight of certain deals aggressively. He indicated that the Internal Revenue Service (IRS) would continue to employ the economic substance doctrine in these cases despite the administration’s moves to rescind the disclosure mandates. Explore the Details.
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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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