[et_pb_section fb_built=”1″ _builder_version=”4.16″ custom_padding=”22px|||||” global_colors_info=”{}”][et_pb_row admin_label=”CTA” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” collapsed=”on” 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=”The data is in! See what family owned businesses are saying about today\u2019s challenges and opportunities.” button_url=”https:\/\/familyenterpriseusa.com\/family-business-survey\/” button_text=”Read the 2025 Annual Survey Executive Survey now! Click here.” disabled_on=”off|off|off” admin_label=”Call To Action Top” _builder_version=”4.27.4″ _module_preset=”default” header_font_size=”22px” 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″ admin_label=”Author Byline” _builder_version=”4.24.3″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/www.brownandstreza.com\/davidkeligian” link_option_url_new_window=”on” collapsed=”on” global_colors_info=”{}”][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” global_colors_info=”{}”][\/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” global_colors_info=”{}”]<\/p>\n
By Patricia M. Soldano<\/a> [\/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” collapsed=”off” 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=”4.27.4″ 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 \u00a0<\/em><\/strong><\/p>\n \u00a0<\/em><\/strong><\/p>\n It\u2019s never easy working with Congress. It\u2019s a chaotic, ever-changing landscape that keeps any organization on its toes. But it pays off if the messages are constant and consistent.<\/p>\n Working with Congress on the critical tax and economic policies<\/a> affecting family-owned businesses,<\/a> family offices, and successful individuals paid off big time on July 4 with the passage of the One Big Beautiful Bill Act (H.R. 1).<\/p>\n With the bill signed into law, we\u2019re now digesting what it means for our businesses and what new messages and pressure are needed to make sure these hard-fought policies wins don\u2019t get reversed in the next round of elections.<\/p>\n Though much has been written and talked about in the media, here\u2019s the checklist of wins we at Family Enterprise USA, the Policy and Taxation Group, our teams on Capitol Hill, and the many family-owned business<\/a> leaders helped to bring to bring about with House and Senate members.<\/p>\n It should be said that much of our work was done behind the scenes on Capitol Hill, working with House Tax Teams,<\/a> working with individual House and Senate members, and educating them on tax and economic issues affecting you.<\/p>\n Here are the key provisions, and wins for family businesses, in the bill:<\/strong><\/p>\n TCJA Extension:<\/strong> The bill makes permanent or extends several expiring provisions from the 2017 Tax Cuts and Jobs Act (TCJA), including making permanent the individual income tax rates<\/a> enacted by TCJA. The bill does not include a new bracket for high-income individuals.<\/p>\n Estate and Gift Tax<\/a>:<\/strong> The bill permanently increases the estate and gift tax exemption level to $15 million from $14 million, beginning after December 31, 2025, and indexes the increase to inflation. The bill avoids the eliminating of valuation of discounts for Estate Tax purposes.<\/p>\n Section 199A Pass-Through Deduction:<\/strong> The bill makes permanent the 20% Section 199A qualified business income deduction, among several other changes, which helps level the tax playing field versus lower corporate tax rates.<\/a><\/p>\n Capital Gains Tax Rate<\/a>:<\/strong> No modifications or increase in the top Capital Gains tax rate.<\/p>\n R&D Expensing and Bonus Depreciation:<\/strong> Restores research and development expensing, allowing businesses to immediately deduct 100% of the cost of certain short-term investment and machinery from their taxable income<\/a> in the first year rather than over fixed intervals (e.g., equipment interest). The legislation also permanently restores 100% bonus depreciation, effective January 20, 2025.<\/p>\n Like Kind Exchanges:<\/strong> No modifications to and maintenance of Like Kind Exchanges.<\/p>\n Wealth Tax:<\/strong> Avoided the establishment of a Wealth Tax or Surtax on income.<\/p>\n Alternative Minimum Tax:<\/strong> The bill makes permanent TCJA\u2019s increase in the alternative minimum tax (AMT) exemption but reverts the exemption phaseout thresholds to 2018 levels. The reversion may result in additional individuals being subject to the AMT and therefore excluded from claiming the SALT deduction.<\/p>\n Grantor Trusts and Step-Up in Basis:<\/strong> Avoided and no modifications to Grantor Trusts and avoided elimination of Step-Up in basis.<\/p>\n Deductibility:<\/strong> The bill restores the EBITDA (earnings before interest, taxes, depreciation, and amortization)-based limitation on the net business interest deduction effective December 31, 2024.<\/p>\n \u2018Legacy & Longevity\u2019 Spotlight for Sept 17 Caucus<\/strong><\/p>\n Family-owned business<\/a> leaders will gather on Capitol Hill on Sept. 17 for the third meeting this year with members of the Congressional Family Business Caucus.<\/p>\n The theme for this last meeting of 2025 is \u201cLegacy & Longevity – How Congress Can Support the Next Generation of Family Businesses.\u201d<\/a><\/p>\n At the meeting, family business leaders from around the country will share their personal stories about the challenges of Maintaining Legacy and Longevity affected by legislation.<\/p>\n The breakfast gathering begins at 8AM in the Capital Building\u2019s Visitor Center and will start with a panel discussion from the family business leaders<\/a> about managing the transition from one generation to the next. In addition, the panel members will discuss the tax and economic challenges<\/a> involved with transitions, and how Congress, and members of the Caucus, can help with this process.<\/p>\n This will be followed by a legislative and political update by experts from Brownstein and Squire Patton Boggs, a \u201cWhat Now?\u201d presentation from political and communications consultant Dr. Frank Luntz, and a presentation on \u201cFamily Business Tax Concerns<\/a>\u201d by Bobby Stover, Americas Family Enterprise and Family Office Leader for EY.<\/p>\n These presentations are followed by breakout groups of family businesses visiting directly with Congress members and their staffs in their private offices.<\/p>\n These group and private meetings are critical in continuing to make family businesses heard on Capitol Hill, and it makes a huge difference in guiding policy that helps the number one private employer in the country, family-owned businesses.<\/p>\n <\/p>\n [\/et_pb_text][et_pb_divider divider_style=”dotted” 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=”4.27.4″ 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 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 [\/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 divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_video_slider disabled_on=”on|on|on” admin_label=”Video Slider Family Business Stories 1″ _builder_version=”4.27.4″ _module_preset=”default” disabled=”on” global_module=”5963″ global_colors_info=”{}”][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=3k9d1tFz5AU&t=22s” _builder_version=”4.19.1″ _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=kG0lDKbmJxg” _builder_version=”4.19.1″ _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=HFK8SG1VSco” _builder_version=”4.19.1″ _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=Z15BqbFOYck” _builder_version=”4.19.1″ _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=bsn5xYrxhJg” _builder_version=”4.19.1″ _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=PL3K3rK7ioA&t=5s” _builder_version=”4.19.1″ _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=CpXRbRBhPKc” _builder_version=”4.19.1″ _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=”4.27.4″ _module_preset=”default” global_module=”6498″ global_colors_info=”{}”]<\/p>\n #incometax #CapitalGainsTax #R&DExpensing #DontPunishSuccess #GrantorTrusts #StepUpinBasis #likeKindExchanges #AcceleratedDepreciation #EstateTax #Deathtax #wealthtax #taxLegislation #CongressionalCaucus #incometaxrates #repealestatetax #AdvocatingForFamilyBusinesses #FamilyOwnedBusiness #WomenOwnedBusiness @FamilyEnterpriseUSA #FamilyEnterpriseUSA<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" By Patricia M. Soldano President Family Enterprise USACongress Listens When Message is Constant and Consistent; \u2018One Big Beautiful Bill\u2019 Shows Congress Heard Us \u00a0 Educating Voters and Congress Pays Off for Family-owned Businesses \u00a0 It\u2019s never easy working with Congress. It\u2019s a chaotic, ever-changing landscape that keeps any organization on its toes. But it pays […]<\/p>\n","protected":false},"author":2,"featured_media":14892,"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":[48,3,92,94],"tags":[],"class_list":["post-14890","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-feusa","category-multi-generational-business","category-pat-soldano"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/14890","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=14890"}],"version-history":[{"count":5,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/14890\/revisions"}],"predecessor-version":[{"id":14946,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/14890\/revisions\/14946"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/14892"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n<\/strong>President<\/em>
\nFamily Enterprise USA<\/p>\nCongress Listens When Message is Constant and Consistent; \u2018One Big Beautiful Bill\u2019 Shows Congress Heard Us<\/strong><\/h1>\n
Educating Voters and Congress Pays Off for Family-owned Businesses<\/strong> <\/em><\/h2>\n
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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