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.
With just 21 days until Election Day, the Harris and Trump campaigns are shifting into high gear.
Vice President Kamala Harris has planned a live, televised town hall in Pennsylvania, while former President Trump declares New York is now in play for Republicans.
As candidates in key congressional races make their final pledges, the battle for the 119th Congress is also heating up. Republicans have a solid chance of regaining the Senate majority while House Republican and Democratic leadership are looking to build a House majority with increased focus on swing districts in California, New Jersey and New York.
Stay informed with “Elections Edge” for a weekly snapshot of pivotal campaign developments; updated forecasts for the White House, Senate and House; and insights into the races that will shape the balance of power next year.
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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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