{"id":14711,"date":"2025-07-01T10:22:42","date_gmt":"2025-07-01T17:22:42","guid":{"rendered":"https:\/\/familyenterpriseusa.com\/?p=14711"},"modified":"2025-07-01T18:44:26","modified_gmt":"2025-07-02T01:44:26","slug":"tax-update-senate-passes-reconciliation-package","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/taxes\/tax-update-senate-passes-reconciliation-package\/","title":{"rendered":"Tax Update: Senate Passes Reconciliation Package"},"content":{"rendered":"

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Moments ago, the Senate passed Republicans\u2019 multi-trillion-dollar reconciliation package, known as the One Big Beautiful Bill Act (H.R. 1), by a vote of 51-50, with Vice President J.D. Vance casting a tie-breaking vote in favor of passage.<\/strong><\/h1>\n

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Sens. Susan Collins (R-ME), Rand Paul (R-KY), and Thom Tillis (R-NC) joined all Democrats in opposition to the bill. The vote on final passage followed votes on the adoption of a perfecting amendment (see attached) making final adjustments to the Senate\u2019s tax and spending proposals and the adoption of a substitute amendment to the House-passed bill.<\/em><\/strong><\/h2>\n

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The Tuesday morning vote series followed an overnight vote-a-rama on the bill which featured a record number of votes on amendments and motions. During the vote-a-rama, Senators adopted three Republican-led amendments including an amendment from Sen. Joni Ernst (R-IA) on unemployment compensation, an amendment from Sen. John Kennedy (R-LA) on Medicaid eligibility verification, and an amendment from Sen. Marsha Blackburn (R-TN) to strike a moratorium on state regulation of AI. The Senate rejected over forty Democratic-led amendments and motions along party lines during the vote-a-rama.<\/p>\n

What\u2019s Next? The House Rules Committee is expected to convene as early as Tuesday afternoon to consider a rule providing for House floor consideration of the Senate-passed reconciliation package. The House may vote to concur in the Senate amendment to H.R. 1 as early as Wednesday morning.<\/p>\n

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Take Action Now by Asking your Representative to Vote For the OBBB as it is Passed by the Senate.<\/strong><\/a><\/span><\/h3>\n

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We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…<\/em><\/h4>\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 family owned businesses<\/a> and protecting a lifetime of savings<\/a> has never been greater. Now more than ever, successful families<\/a> and family owned businesses<\/a> are under fire. That’s why Family Enterprise USA<\/a> is passionately working to increase the awareness of issues important to family owned 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 #CapitalGainsTax #R&DExpensing #DontPunishSuccess #GrantorTrusts #StepUpinBasis #likeKindExchanges #AcceleratedDepreciation #EstateTax #Deathtax #wealthtax #taxLegislation #CongressionalCaucus #incometaxrates #repealestatetax #AdvocatingForFamilyBusinesses #FamilyOwnedBusiness #WomenOwnedBusiness @FamilyEnterpriseUSA #FamilyEnterpriseUSA<\/p>\n

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Moments ago, the Senate passed Republicans\u2019 multi-trillion-dollar reconciliation package, known as the One Big Beautiful Bill Act (H.R. 1), by a vote of 51-50, with Vice President J.D. Vance casting a tie-breaking vote in favor of passage.   Sens. Susan Collins (R-ME), Rand Paul (R-KY), and Thom Tillis (R-NC) joined all Democrats in opposition to […]<\/p>\n","protected":false},"author":2,"featured_media":14723,"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":[48,43,92,76,36],"tags":[],"class_list":["post-14711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-estate-taxes","category-multi-generational-business","category-income-taxes","category-taxes"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/14711","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=14711"}],"version-history":[{"count":3,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/14711\/revisions"}],"predecessor-version":[{"id":14726,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/14711\/revisions\/14726"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/14723"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}