[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=”Unlock Growth: Optimize Your Shareholder Liquidity Strategy” button_url=”https:\/\/us02web.zoom.us\/webinar\/register\/7916902497205\/WN_NAw6RPJKQK2yg0SdIF5orA” url_new_window=”on” button_text=”Discover essential tactics to safeguard your family business’s future. Reserve your seat now!” admin_label=”Call To Action Top” _builder_version=”4.24.3″ _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_column][\/et_pb_row][et_pb_row column_structure=”1_5,3_5,1_5″ disabled_on=”off|off|off” _builder_version=”4.25.1″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/homrichberg.com\/team\/isaac-bradley-cpa\/” link_option_url_new_window=”on” global_colors_info=”{}” admin_label=”Pat Soldano Author” global_module=”11546″ saved_tabs=”all”][et_pb_column type=”1_5″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_image src=”https:\/\/familyenterpriseusa.com\/wp-content\/uploads\/2024\/05\/Team-members-Pat-S.jpg” title_text=”Patricia M. Soldano” _builder_version=”4.25.1″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_image][\/et_pb_column][et_pb_column type=”3_5″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Author” _builder_version=”4.25.1″ 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
By Pat Soldano<\/strong> [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_5″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][\/et_pb_column][\/et_pb_row][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_text admin_label=”1″ _builder_version=”4.25.1″ 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 <\/p>\n <\/p>\n It didn\u2019t take long for the legislators attending this year\u2019s first Congressional Family Business Caucus<\/a> to get an ear-full of workforce issues facing America\u2019s largest private employer, family businesses<\/a>.<\/p>\n But this time it was different. The voices were not only from family business owners, but from non-family business employees<\/a>, too.<\/p>\n The first Caucus meeting<\/a> was held March 12 in the Longworth House Office Building and the topic was dear to the hearts to those in attendance: workforce.<\/p>\n This bipartisan meeting brought together six Congressional members to speak before family business owners<\/a> and others in attendance.<\/p>\n The members of Congress who spoke were co-chairs Brad Schneider (D-IL) and Claudia Tenney (R-NY), as well as Rep. John Duarte (R-CA), Rep. Marc Molinaro (R-NY), and Rep. Carol Miller (R-WV).\u00a0 The third co-chair, Rep. Jodey Arrington (R-TX), addressed attendees at the reception after the meeting.<\/p>\n Meetings now have topics tailored to critical issues facing generationally-owned family businesses<\/a>, and their employees. The next Caucus meetings<\/a> are set for May 14 and September 18.<\/p>\n To date, the bipartisan Caucus<\/a> has 42 House members. The expectation is that the number will grow to 50 by the end of the year, considered light-speed progress on Capitol Hill.<\/p>\n Early Research Results<\/strong><\/p>\n During the meeting, early research from the new Annual Family Business Survey 2024<\/a> was presented and, as always, many of the results were a surprise to the Caucus members and Congressional staff members<\/a> in the room.<\/p>\n The big difference, this time, was the numbers were teamed with the many \u201creal-life\u201d stories from the non-family business employees<\/a> in attendance.<\/p>\n Highlights from the research, which surveyed nearly 800 family businesses<\/a> and family offices and centers in 40 states, found that the top three tax policies \u201cof top concern\u201d to family businesses<\/a> were: 1) Income taxes (41%); 2) Estate taxes (19%); and 3) Payroll taxes (13%). Last year, the number one tax concern was also \u201cIncome Taxes,\u201d but the concern was higher at 50%.<\/p>\n The top economic policy priorities family businesses<\/a> are looking at this year are, at number one, \u201cReduce the Federal Budget\/Debt,\u201d at 30%, and at number two, \u201cReduce Income Taxes,\u201d at 23%. This is a shift from last year, which had \u201cReduce Income Taxes\u201d as the number one priority (19%) and \u201cReduce\/Eliminate Estate Taxes\u201d at number two, with 18% of the respondents citing it as the major priority.<\/p>\n When it came to workforce issues, the \u201cTop 3\u201d workforce challenges this year, were: 1) Recruiting & Training (54%); 2) Benefits\/Pay (25%); and 3) Culture Building (14%).<\/p>\n When it comes to asking family business owners what they would do \u201cIf You Paid Less in Taxes?\u201d The answers, presented to the group, were 52% would \u201cInvest more in their business,\u201d 30% would \u201cPay more to employees,\u201d and 8% would \u201cMake distributions to owners.\u201d<\/p>\n Real World Work Stories<\/strong><\/p>\n One real-world story came from non-family member Chris Paz, President at Los Angeles-based Trophy Automotive Dealer Group LLC., who spoke to the group about how unnecessary barriers hurt productivity. Trophy Automotive represents such brands as Mercedes, Kia, and Nissan.<\/p>\n \u201cEvery day I see the truly unfair tax burdens and non-market-driven regulations, such as expensive electric vehicle requirements, that are driving small auto dealerships out of business,\u201d Paz told Caucus members and those family business owners, and family office executives in attendance.<\/p>\n Other family businesses in attendance included such organizations as Bush Bros. and Co., Golden Star Technologies, GSM Industrial, Global A1 Flagship Co., Laticrete International, and Nielsen-Massey Vanillas.<\/p>\n Skilled Workers<\/strong><\/p>\n The biggest workforce issue that came up was finding qualified workers, especially skilled technicians.<\/p>\n Henry Ngo, Senior Vice President at Golden Star Technology in Cerritos, Calif., pleaded his case for the lack of availability 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 huge 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 just had to learn how to do more with less.\u201d<\/p>\n Balancing Act<\/strong><\/p>\n In addressing challenges within the manufacturing sector, lawmakers also heard about deep misunderstandings of the American supply chain and policies that 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, North America, based in Bethany, Conn. Laticrete is an international tile installation systems company. Nash is a non-family executive at Laticrete. The stark reality, according to Nash, is \u201cAmerica needs to start inventing again.\u201d<\/p>\n The research and development tax policies \u201cneed to be revised so companies can start investing in America,\u201d Nash said. \u201cWe no longer are a country or doers and makers, we need to get back to that, back to inventing and investing in America.\u201d<\/p>\n Long-Term Focus<\/strong><\/p>\n Another non-family employee, Nichole DeGidio, Vice President of Human Resources at Global A1 Flagship, a Navy and 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. DeGidio has worked for Global A1 Flagship for 16 years.<\/p>\n \u201cIt feels like family throughout the entire organization,\u201d she added. \u201cWe see how the decisions are made for long-term sustainability and not for short-term profits. Opinions matter in our company and there is a community connection. When we have stability, it creates confidence and that is why we have so many multi-generational, long-term employees,\u201d she said.<\/p>\n Tennessee-based Bush Bros. and Company\u2019s Director of External Affairs, Robert Loggins, a non-family member executive, focused his remarks on attracting Gen Z and Millennials<\/a> to the workforce.<\/p>\n \u201cWe are 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 the 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 giving 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 address across all industries.\u201d [\/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 Webinar Replays” _builder_version=”4.21.0″ _module_preset=”default” global_module=”5954″ saved_tabs=”all” global_colors_info=”{}”][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=ebLC74TMplE” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=fIbiW_qFdE0″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=uKyoSHKZ-5o&t=81s” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=KIgfjsdi4o0″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=6ME0xh9XKSM” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=Ggte5YDferU” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=GnpvvzhcfS0″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=6UMxZ8yBsOs” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” 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":" By Pat SoldanoPresidentFamily Enterprise USAWith Focus on \u2018Workforce,\u2019 Congressional Family Business Caucus Leaders Hear Directly from Non-Family Business Employees in First Caucus Meeting of 2024 New Family Business Research Unveiled; Shows Taxes, National Debt as Main Concerns This Year It didn\u2019t take long for the legislators attending this year\u2019s first Congressional Family Business […]<\/p>\n","protected":false},"author":2,"featured_media":11548,"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":[48,102,93,92],"tags":[],"class_list":["post-11544","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-family-business-caucus","category-policy-and-taxation-group","category-multi-generational-business"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/11544","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=11544"}],"version-history":[{"count":3,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/11544\/revisions"}],"predecessor-version":[{"id":11552,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/11544\/revisions\/11552"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/11548"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
President<\/em>
Family Enterprise USA<\/p>\nWith Focus on \u2018Workforce,\u2019 Congressional Family Business Caucus Leaders Hear Directly from Non-Family Business Employees in First Caucus Meeting of 2024<\/strong><\/h1>\n
New Family Business Research Unveiled; Shows Taxes, National Debt as Main Concerns This Year<\/strong><\/em><\/h2>\n
The next Congressional Family Business Caucus<\/a> is set for May 14. The topic for that meeting will be \u201cSuccession\u201d planning.<\/p>\nWe hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…<\/em><\/h4>\n
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