{"id":14750,"date":"2025-07-03T14:29:34","date_gmt":"2025-07-03T21:29:34","guid":{"rendered":"https:\/\/familyenterpriseusa.com\/?p=14750"},"modified":"2025-07-03T14:31:30","modified_gmt":"2025-07-03T21:31:30","slug":"tax-update-house-approves-senate-reconciliation-package","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/taxes\/tax-update-house-approves-senate-reconciliation-package\/","title":{"rendered":"Tax Update: House Approves Senate Reconciliation Package"},"content":{"rendered":"

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Today, the House approved the Senate\u2019s version of Republicans\u2019 multi-trillion-dollar reconciliation package, known as the One Big Beautiful Bill Act (H.R. 1), by a vote of 218-214, with Reps. Brian Fitzpatrick (R-PA) and Thomas Massie (R-KY) joining all Democrats in opposition.<\/strong><\/h1>\n

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The vote on final passage followed several hours-long procedural votes where House Republican leadership and the White House worked to consolidate Republican support for the Senate-passed bill. Following the end of debate, Democratic Leader Hakeem Jeffries (D-NY) also gave an hours-long floor speech in opposition to the reconciliation bill. The reconciliation package now heads to the White House, where President Trump is expected to sign the bill on July 4.<\/p>\n

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What is Included in the Final Legislation? Click here to read notable tax provisions in the final legislation.<\/a><\/strong><\/span><\/h2>\n

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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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Today, the House approved the Senate\u2019s version of Republicans\u2019 multi-trillion-dollar reconciliation package, known as the One Big Beautiful Bill Act (H.R. 1), by a vote of 218-214, with Reps. Brian Fitzpatrick (R-PA) and Thomas Massie (R-KY) joining all Democrats in opposition.   The vote on final passage followed several hours-long procedural votes where House Republican […]<\/p>\n","protected":false},"author":2,"featured_media":14752,"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-14750","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\/14750","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=14750"}],"version-history":[{"count":4,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/14750\/revisions"}],"predecessor-version":[{"id":14756,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/14750\/revisions\/14756"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/14752"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}