{"id":10633,"date":"2024-03-04T20:02:49","date_gmt":"2024-03-05T04:02:49","guid":{"rendered":"https:\/\/familyenterpriseusa.com\/?p=10633"},"modified":"2024-03-04T20:02:56","modified_gmt":"2024-03-05T04:02:56","slug":"weekly-washington-update-michigan-primary-surprises-what-the-biden-trump-wins-reveal","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/taxes\/weekly-washington-update-michigan-primary-surprises-what-the-biden-trump-wins-reveal\/","title":{"rendered":"Weekly Washington Update: Michigan Primary Surprises: What the Biden & Trump Wins Reveal"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.16″ custom_padding=”4px|||||” global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_cta title=”Join the Effort to Persuade Your Representatives to Stop Harmful Policies and Excessive Regulation!” button_url=”https:\/\/www.congressweb.com\/PTG\/12\/” button_text=”Contact Your Representatives in Congress Today. Click Here.” admin_label=”Call To Action Top” _builder_version=”4.24.2″ _module_preset=”default” background_color=”#397389″ custom_button=”on” button_bg_color=”#ff0019″ custom_margin=”-17px|||||” custom_padding=”16px||19px|||” global_module=”9695″ saved_tabs=”all” global_colors_info=”{}”][\/et_pb_cta][et_pb_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”1″ _builder_version=”4.24.2″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

Congress Averts a Shutdown Yet Again:<\/span> Following intense negotiations and a high-profile White House meeting early this week, congressional leaders and appropriators came to an agreement to avoid a partial government shutdown. The agreement contains a short-term continuing resolution (CR) and a framework to pass all 12 Fiscal Year (FY) 2024 appropriations bills. Under the CR, the deadline for the Transportation-HUD, Interior, Energy and Water, Milcon-VA, Agriculture and Commerce-Justice-Science bills will now be extended to March 8. The remaining six bills will be extended until March 22 to provide congressional leaders with additional time to strike a deal on some of the more contentious appropriations bills, including funding for the Department of Defense (DOD), the Department of Homeland Security (DHS) and others. On Thursday afternoon, the House voted to advance the CR under suspension of the rules (320-99), with objections from House Freedom Caucus conservatives. The Senate moved to pass the measure Thursday evening on a bipartisan basis (77-13), sending the bill to President Biden. Additionally, both chambers passed a short-term extension of the Federal Aviation Administration (FAA) until May 10. Appropriators have signaled that the text for the first tranche of bills may be released as early as this weekend after last-minute holdups are resolved. The House and Senate are both scheduled to return next Tuesday.<\/p>\n

[\/et_pb_text][et_pb_divider color=”#397389″ divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||14px|||” custom_padding=”10px||2px|||” global_colors_info=”{}”][\/et_pb_divider][et_pb_button button_url=”https:\/\/comms.bhfs.com\/rv\/ff00c28046f2ada708c1b03ac645a82f546adfa7″ url_new_window=”on” button_text=”Stay Informed – Health Care, Tax, Immigration, Energy, Environment and Natural Resources, Transportation, Defense, Education and Labor, Trade, Telecommunications, Cybersecurity and Data Privacy, and More. Click Here!” admin_label=”Read More Button” _builder_version=”4.24.2″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_button][et_pb_divider color=”#397389″ divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||14px|||” custom_padding=”10px||2px|||” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”2″ _builder_version=”4.24.2″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

House Energy and Commerce Subcommittee on Health Holds Legislative Hearing on Rare Diseases:<\/span> On Thursday, Feb. 29, the House Energy and Commerce Health Subcommittee convened a\u00a0hearing<\/a>\u00a0titled \u201cLegislative Proposals to Support Patients with Rare Diseases,\u201d where they discussed crucial bills such as the MINI Act, ORPHAN Cures Act and the Inflation Reduction Act, alongside bills to address pediatric cancer and access to care. Subcommittee Chair Brett Guthrie (R-KY) highlighted the challenges rare disease patients encounter in accessing treatments. He emphasized the importance of ensuring coverage for treatments under Medicare and bolstering existing incentives. Subcommittee Ranking Member Anna Eshoo (D-CA) outlined several bills aimed at assisting Americans living with rare diseases and emphasized the need for diversity in clinical trials, especially concerning pediatric drugs. Full Committee Chair Cathy McMorris Rodgers (R-WA) stressed the necessity of promoting innovation for rare diseases and emphasized the importance of ensuring accessibility to novel therapies. Full Committee Ranking Member Frank Pallone (D-NJ) expressed concerns regarding proposals undermining prescription drug prices and emphasized the need to incentivize development while understanding the unique needs of rare disease communities. The hearing highlighted bipartisan efforts to address the complexities surrounding rare diseases and access to care.<\/p>\n

[\/et_pb_text][et_pb_divider color=”#397389″ divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||14px|||” custom_padding=”10px||2px|||” global_colors_info=”{}”][\/et_pb_divider][et_pb_button button_url=”https:\/\/comms.bhfs.com\/rv\/ff00c28046f2ada708c1b03ac645a82f546adfa7″ url_new_window=”on” button_text=”Stay Informed – Health Care, Tax, Immigration, Energy, Environment and Natural Resources, Transportation, Defense, Education and Labor, Trade, Telecommunications, Cybersecurity and Data Privacy, and More. Click Here!” admin_label=”Read More Button” _builder_version=”4.24.2″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_button][et_pb_divider color=”#397389″ divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||14px|||” custom_padding=”10px||2px|||” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”3″ _builder_version=”4.24.2″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

Tax Bill Update\u2014Potential Paths to Passage:\u00a0<\/span>While Congress continues to negotiate on appropriations, the Tax Relief for American Families and Workers Act (H.R. 7024<\/a>) is stalled in the Senate, as the Senate Republicans discuss various provisions of the bill, including the child tax credit\u2019s perceived lack of work incentives and whether limitations on the employee retention tax credit should be treated as an offset for budgetary purposes. Despite the temporary standstill, there remain viable paths for the bill to pass the Senate, including inclusion of the tax package in a larger spending bill, or taking up the bill as a stand-alone measure with an agreement on any amendments and debate time. If the bill is passed without amendment, it would head to the White House, where President Biden is expected to sign it. On Feb. 28, Finance Committee Ranking Member Mike Crapo (R-ID) released a public\u00a0statement<\/a>\u00a0on the status of package negotiations, reaffirming that he is \u201ccommitted to seeking a bipartisan resolution that a majority of Senate Republicans can support,\u201d with subsequent comments suggesting that a compromise may include changes to the core provisions in the package as well as additional member priorities.<\/p>\n

[\/et_pb_text][et_pb_divider color=”#397389″ divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||14px|||” custom_padding=”10px||2px|||” global_colors_info=”{}”][\/et_pb_divider][et_pb_button button_url=”https:\/\/comms.bhfs.com\/rv\/ff00c28046f2ada708c1b03ac645a82f546adfa7″ url_new_window=”on” button_text=”Stay Informed – Health Care, Tax, Immigration, Energy, Environment and Natural Resources, Transportation, Defense, Education and Labor, Trade, Telecommunications, Cybersecurity and Data Privacy, and More. Click Here!” admin_label=”Read More Button” _builder_version=”4.24.2″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_button][et_pb_divider color=”#397389″ divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||14px|||” custom_padding=”10px||2px|||” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”4″ _builder_version=”4.24.2″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

Biden Administration Considering Taking Executive Actions on Border Policies:<\/span> According to recent media reports, President Joe Biden is considering implementing an array of policies to address the situation on the southern border via executive action. The reports indicate that Biden\u2019s considerations are prompted by Congress\u2019 failure thus far to pass border reforms as part of a national security supplemental package. It is also likely that political considerations\u2014namely the negative attention the border situation has wrought on Biden and Democrats\u2014also play a factor, ahead of November\u2019s elections.<\/p>\n

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\"\"<\/p>\n

About Brownstein Hyatt Farber Schreck
<\/strong>Brownstein Hyatt Farber Schreck is a unique law firm. Walk into any of our offices and you\u2019ll immediately recognize a different type of energy. Complacency doesn\u2019t have a place here. Flexibility and inspiration do.\u00a0Our culture and enthusiasm allow our attorneys, policy consultants and legal staff to stay ahead of our clients\u2019 needs and provide them with the resources they require to meet their business objectives.<\/p>\n

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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.<\/p>\n

The need for fact-based reporting of issues important to multi generational businesses<\/a> and protecting a lifetime of savings<\/a> has never been greater. Now more than ever, multi generational businesses<\/a> and family businesses<\/a> are under fire. That’s why Family Enterprise USA<\/a> is passionately working to increase the awareness of issues important to generationally-owned family businesses<\/a> 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<\/a>, possible elimination of valuation discounts, increase in capital gains tax<\/a>, enactment of a wealth tax<\/a>, and the continued burden of the gift tax<\/a>, estate tax<\/a> and generation skipping tax<\/a>.<\/p>\n

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Family Enterprise USA<\/a> promotes generationally<\/a> owned family business<\/a> creation, growth, viability, and sustainability by advocating for family businesses<\/a> and their lifetime of savings with Congress<\/a> in Washington DC.\u00a0 Since 2007, Family Enterprise USA<\/a> has represented and celebrated\u00a0all sizes, professions and industries of family-owned enterprises and multi-generational<\/a> employers. It is a bi-partisan 501.c3 organization.\u00a0Family foundations can donate.<\/a><\/p>\n

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#incometax #taxseason #federaltaxpolicy #taxation #EstateTax #Deathtax #wealthtax #taxLegislation #CongressionalCaucus #CapitalGainsTax #incometaxrates #incometaxseason #taxrefund #taxreturn #incometaxreturn #gifttax #Generationskippingtax #InheritanceTax #repealestatetax #FamilyBusiness #promotefamilybusinesses #familyowned #supportlocalbusiness #womeninbusiness #AdvocatingForFamilyBusinesses #Generationallyowned #Multigenerationalbusiness\u00a0 @FamilyEnterpriseUSA @PolicyAndTaxationGroup @DitchTheEstateTax #FamilyEnterpriseUSA #PolicyAndTaxationGroup #DitchTheEstateTax<\/p>\n

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Congress Averts a Shutdown Yet Again: Following intense negotiations and a high-profile White House meeting early this week, congressional leaders and appropriators came to an agreement to avoid a partial government shutdown. The agreement contains a short-term continuing resolution (CR) and a framework to pass all 12 Fiscal Year (FY) 2024 appropriations bills. Under the […]<\/p>\n","protected":false},"author":2,"featured_media":10635,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[43,48,78,76,36],"tags":[],"class_list":["post-10633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-estate-taxes","category-family-businesses","category-in-the-news","category-income-taxes","category-taxes"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/10633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10633"}],"version-history":[{"count":3,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/10633\/revisions"}],"predecessor-version":[{"id":10638,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/10633\/revisions\/10638"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/10635"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}