[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=”Discover 3D Investing: Join Our Webcast for Proven Strategies!” button_url=”https:\/\/us02web.zoom.us\/webinar\/register\/7916902497205\/WN_W4ml0fJvQiGY8g-31f_xlg” url_new_window=”on” button_text=”Learn how dividend growth of double digits can enhance your investment strategies and boost annual income. RSVP now!” 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
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The first bipartisan Congressional Family Business Caucus<\/a> meeting of the year saw six members of Congress and over 40 family business executives gather in the Longworth House Office Building.<\/p>\n <\/p>\n [\/et_pb_text][et_pb_divider color=”#397389″ divider_style=”dotted” divider_weight=”1px” _builder_version=”4.24.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_video src=”https:\/\/www.youtube.com\/watch?v=AWvac7ZNJKg” _builder_version=”4.24.2″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_video][et_pb_divider color=”#397389″ divider_style=”dotted” divider_weight=”1px” _builder_version=”4.24.0″ _module_preset=”default” 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 The meeting brought together six Congressional members, including co-chairs Brad Schneider (D-IL), Claudia Tenney (R-NY), and Rep. Jodey Arrington (R-TX)<\/a>.<\/p>\n Other House Members who spoke at the event were Rep. John Duarte (R-CA), Rep. Marc Molinaro (R-NY), and Rep. Carol Miller (R-WV)<\/a>. The meeting was held March 12.<\/p>\n The Caucus has 42 House members with the mission of educating Congress and raising awareness for America\u2019s family businesses, the largest private employer in the country. Family businesses account for 83.3 million<\/a> jobs and contribute $7.7 trillion annually<\/a> to U.S. gross domestic product, according to research.<\/p>\n In addition, Family Enterprise USA\u2019s President, Pat Soldano, presented the preliminary findings of its new 2024 Family Enterprise USA Annual Family Business Survey<\/a>. Family Enterprise USA, based here, is a bipartisan advocate for family business and helped organize the event. The topic of the meeting was \u201cWorkforce Challenges.\u201d<\/p>\n House members in attendance spoke on the importance of family businesses to the economy and they listened to six family-owned businesses executives, all non-family employees, tell their stories.<\/p>\n House Members Speak on Family Business<\/p>\n Rep. Schneider started the meeting by discussing his family\u2019s experience operating a family-owned business and his past consulting work. Schneider stressed that \u201cfamily-owned businesses are the fabric of local communities.\u201d<\/p>\n Rep. Duarte spoke of his background as a fourth-generation family farmer and business owner in California, and his experiences with family-business issues, including tax challenges and the impact of inflation.<\/p>\n \u201cI understand the impact of policy decisions on family-owned businesses, including reduced access to capital,\u201d he said. Duarte, on the House Ways and Means Committee, said he \u201cwill adopt pro-family-business policies in future legislation, such as farm savings accounts.\u201d He added that, \u201cfamily ownership is more durable over time.\u201d<\/p>\n Rep. Tenney highlighted her Upstate New York family-owned newspaper business and how her role on the House Ways and Means Committee may be helpful. She noted the challenges of operating a family-owned business, including high healthcare costs, access to labor, and competitive benefits, but expressed optimism that family businesses \u201cwill flourish in the future.\u201d<\/p>\n Rep. Molinaro, highlighting his role on the House Small Business Committee, said over 70% of \u201cnew jobs are created by small and medium businesses<\/a>.\u201d He added he was disappointed seeing many family-owned businesses leaving communities in his Upstate New York district but was \u201calso optimistic about future entrepreneurship in the area.\u201d<\/p>\n At the meeting, Rep. Miller discussed her family\u2019s multi-generational car dealership business, saying \u201cmost members of Congress are unfamiliar with the everyday challenges of owning and running a business.\u201d<\/p>\n The workforce<\/a> Caucus was then followed by a reception, where co-chair Rep. Arrington offered his remarks to group, with a focus on how to manage in an era of political polarization.<\/p>\n Real-World Family Business Stories<\/span><\/p>\n The non-family employees who told their real-world family business stories were from Golden Star Technologies, Trophy Automotive Dealer Group, Global A1st Flagship, Laticrete International, Bush Bros. and Co., and GSM Industrial.<\/p>\n One such story came from non-family member Chris Paz, President at family-owned and Los Angeles-based Trophy Automotive Dealer Group LLC, representing such brands as Mercedes, Kia, and Nissan.<\/p>\n \u201cEvery day I see the truly unfair tax burdens<\/a> and non-market-driven regulations, such as expensive electric vehicle requirements, that are driving small auto dealerships out of business,\u201d<\/p>\n Henry Ngo, Senior Vice President at Golden Star Technology in Cerritos, Calif., discussed the severe lack of talented professionals.<\/p>\n \u201cThe labor laws and immigration policies have a huge impact on our business,\u201d Ngo told the Caucus attendees. \u201cAs a business founded by immigrants from Taiwan, there is a critical shortage of skilled professionals in the technology industry,\u201d he said. \u201cWe used to rely on trade and vocational schools, but these are gone. We\u2019ve had to learn how to do more with less.\u201d<\/p>\n Lawmakers at the Caucus also heard how well-intended government policies can go awry.<\/p>\n \u201cOur biggest concern is dealing with policies that end up with unintended outcomes,\u201d said Ron Nash, President, COO, Laticrete International, based in Bethany, Conn. Nash is a non-family executive at Laticrete, an international tile installation systems company. The stark reality, according to Nash, is \u201cAmerica needs to start inventing again.\u201d<\/p>\n In addition, he said, research and development tax policies<\/a> \u201cneed to be revised so companies can start investing in America, we no longer are a country of doers and makers, we need to get back to that, back to investing in America.\u201d<\/p>\n Another non-family employee, Nichole DeGidio, Vice President of Human Resources at Global A1 Flagship, a Defense Department contractor based in Orange County, Calif., explained how investing for the long-term creates stability and confidence.<\/p>\n \u201cWorking for a family business, I see the real commitment from owners to employees,\u201d said DeGidio. She has worked for Global A1 Flagship for 16 years.<\/p>\n \u201cIn family businesses we see how the decisions are made for long-term sustainability and not for short-term profits, and opinions matter in our company. When we have stability, it creates confidence, and that\u2019s why we have so many multi-generational, long-term employees,\u201d she said.<\/p>\n The Tennessee-based bean company, Bush Brothers and Company, had its Director of External Affairs, Robert Loggins, a non-family member executive, focus his remarks on attracting Gen Z and Millennials to the workforce.<\/p>\n \u201cWe\u2019re a rigorous employer in a small town and its tough attracting young people, but we feel this as more of an opportunity than an obstacle once they come and take a look,\u201d said Loggins to attendees. \u201cTo keep them interested, we focus on being a great place to work and grow a career over time\u2014and we offer great incentives including distributions of over five hundred million dollars to employees over the last twenty-five years.\u201d<\/p>\n Brian Dombach, President of GSM Industrial and a non-family member at the 200-employee industrial services company, echoed the industry wide issue of finding skilled workers.<\/p>\n \u201cOur number one workforce issue is finding welders, technicians, hourly workers, ductwork workers,\u201d Dombach said. \u201cWe just can\u2019t find them, it\u2019s something that needs to be addressed across all industries.\u201d<\/p>\n The next Congressional Family Business Caucus<\/a> is set for May 14. The topic for that meeting will be \u201cSuccession\u201d planning.<\/p>\n [\/et_pb_text][et_pb_divider color=”#397389″ divider_weight=”2px” disabled_on=”off|off|off” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text disabled_on=”off|off|off” admin_label=”Become a member text” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_module=”5822″ global_colors_info=”{}”]<\/p>\n 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 [\/et_pb_text][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/donate\/” button_text=”Become a Family Enterprise USA Member” button_alignment=”center” disabled_on=”off|off|off” admin_label=”Become FEUSA member button” _builder_version=”4.21.0″ _module_preset=”default” custom_button=”on” global_module=”6503″ global_colors_info=”{}”][\/et_pb_button][et_pb_divider color=”#397389″ divider_style=”dotted” divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_video_slider admin_label=”Video Slider Family Business Stories 3″ _builder_version=”4.20.2″ _module_preset=”default” global_colors_info=”{}” global_module=”7257″ theme_builder_area=”post_content”][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=qkzuUypw3JU” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=L5QmaJqcm4Y” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=LyZMrONDbPE” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=tmxFubyBiHA” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=9Tn7ZliFx2I” _builder_version=”4.20.2″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/youtu.be\/Jx5o3EzVD1E” _builder_version=”4.20.2″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][\/et_pb_video_slider][et_pb_text disabled_on=”off|off|off” admin_label=”FEUSA Statement” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_module=”5910″ saved_tabs=”all” global_colors_info=”{}”]<\/p>\n 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 [\/et_pb_text][et_pb_text disabled_on=”off|off|off” admin_label=”Hash tags & Tags” _builder_version=”4.21.0″ _module_preset=”default” global_module=”6498″ global_colors_info=”{}”]<\/p>\n #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 [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" ‘Workforce\u2019 Issues Highlight Latest Congressional Family Business Caucus with House Member Co-Chairs Schneider, Tenney, and Arrington Speaking at Event Preliminary Findings of New Family Enterprise USA Annual Family Business Survey Unveiled; Federal Debt, Taxes High on List of Concerns The first bipartisan Congressional Family Business Caucus meeting of the year saw six members […]<\/p>\n","protected":false},"author":2,"featured_media":10849,"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":[48,102,3,92,16,87],"tags":[],"class_list":["post-10847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-family-business-caucus","category-feusa","category-multi-generational-business","category-video-post","category-watch-listen"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/10847","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=10847"}],"version-history":[{"count":3,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/10847\/revisions"}],"predecessor-version":[{"id":10852,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/10847\/revisions\/10852"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/10849"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…<\/em><\/h4>\n
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