Tax Watch! New Video Unpacks Sen. Wyden’s New ‘Wealthy’ Income Tax Act Aimed at Entrepreneurs, Successful Individuals, and Family Business


Intended to Close Loopholes, the Act will Likely Hurt More Than it will Help


New Video with Brownstein Tax Expert Russ Sullivan Details Faults with New Tax Plan

Late last year, Sen. Ron Wyden (D-OR), chairman of the Senate’s tax-writing committee, introduced his Billionaires Income Tax Act (S. 3367), an updated version of his mark-to-market proposal. The proposed wealth tax, designed to close tax “loopholes,” will likely penalize entrepreneurs, successful individuals, and family businesses across the country.

A new video, featuring Policy and Taxation Group tax expert Russ Sullivan, chair of the National Tax Policy Group at the Brownstein law firm, helps unpack the major issues in Sen. Wyden’s tax proposal. Sullivan details how this new “wealth tax” would be unworkable, limit liquidity, disrupt markets, create massive tax bills, and limit savings and business investment.

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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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