[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=”Policy Is Moving. Add Your Voice Now.” button_url=”https:\/\/familyenterpriseusa.com\/2026-annual-family-business-survey\/?utm_campaign=2026AFOBS&utm_medium=CTA&utm_source=FEUSActa&utm_content=FEUSActa&utm_id=2026AFOBS” button_text=”Real influence starts with real input. Take a few minutes to weigh in.” disabled_on=”off|off|off” admin_label=”Call To Action Top” _builder_version=”4.27.5″ _module_preset=”default” header_font_size=”22px” background_color=”#397389″ custom_button=”on” button_bg_color=”#ff0019″ custom_margin=”-17px|||||” custom_padding=”16px||19px|||” hover_enabled=”0″ global_module=”9695″ saved_tabs=”all” global_colors_info=”{}” sticky_enabled=”0″][\/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_video src=”https:\/\/www.youtube.com\/watch?v=IN4WzYU4Bmk” disabled_on=”off|off|off” _builder_version=”4.27.5″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_video][et_pb_text admin_label=”1″ _builder_version=”4.27.5″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]<\/p>\n <\/p>\n <\/p>\n It\u2019s important we\u2019re in the game monitoring the good, bad, and ugly proposals passing through the halls of Congress, especially those affecting family-owned businesses.<\/p>\n Next month, when members of Family Enterprise USA meet to support the Congressional Family Business Caucus<\/a> (held March 17 on Capitol Hill), the \u201chot topic\u201d legislative proposals will focus on affordability. Aptly, the meeting\u2019s theme will be: \u201cPricing and Profits: Affordability Strategies for Family-Owned Businesses.\u201d<\/p>\n In addition, new research from the Family Enterprise USA 2026 Annual Family-Owned Business Survey<\/a> will be unveiled at the meeting, and this is when we identify what the most critical tax and economic issues are for family business leaders today.<\/p>\n Many of the proposed bills on Capitol Hill are still being developed, some in discussion behind closed doors, others looking for bipartisan support. Most will fizzle, but some will make it across the goal line possibly this year or down the road.<\/p>\n Of the proposals put forward publicly, we know our Capitol Hill legislators are looking at policies ranging from expanded paid family leave, capital-gains tax relief, and potential regulatory reforms, some or all of which could be wrapped together in a new \u201csister\u201d bill to last year\u2019s H.R. 1, or the \u201cOne Big Beautiful Bill Act,\u201d which many in Washington are calling Reconciliation 2.0.<\/p>\n Our insiders, from the Brownstein legal and government affairs firm, see this potential bill as focusing heavily on proposals to address the affordability challenges facing families and family-owned businesses across the country.<\/p>\n One group of House members, which work together as the Republican Study Committee (RSC), has put forward a package of proposals \u2013 titled “Making the American Dream Affordable Again” \u2013 that is focused on rising costs of energy, housing, and healthcare. The package also targets spending cuts and extending tax policies, codifying deregulation, and strengthening energy production, among other goals.<\/p>\n \u201cReconciliation 2.0 is the most powerful and potent legislative tool in the toolbox for us to fix what’s broken,\u201d said Committee Chairman Rep. Jodey Arrington (R-TX), and former co-chair of the Congressional Family Business Caucus.<\/a> Key Components of the Reconciliation 2.0 Framework<\/strong><\/p>\n These are worthy objectives and some of the proposals could bring significant cost savings for family-owned businesses. But what are the odds Reconciliation 2.0 actually being signed into law? Right now, with mid-terms looming, passing another party-line bill will be challenging.<\/p>\n \u201cWhile there are a lot of thoughtful proposals to address affordability challenges facing Americans, the reconciliation process is a long and complex road,\u201d said Mark Warren, a shareholder at Brownstein. \u201cWith the extremely narrow vote margin in the House, the President will need to engage to ensure nearly unanimous support for passage of a second reconciliation bill,\u201d said Warren.<\/p>\n More On the Horizon<\/strong><\/p>\n The specter of state wealth taxes continues to cast its shadow over successful family-owned businesses and families.<\/p>\n Several states continue to discuss a wealth tax<\/a>, with California moving toward a ballot initiative for the November elections that would impose a one-time 5% tax on Californians with more than $1 billion in assets. Illinois is considering a similar billionaires wealth tax, while Rhode Island has a wealth-tax<\/a> proposal targeting residents with financial assets of more than $25 million, with certain exceptions.<\/p>\n Other states like Washington, Virginia, Rhode Island, Hawaii, and Michigan are proposing higher income tax rates or surcharges on high-income residents (e.g., annual income more than $1 million per year).<\/p>\n \u201cWhen state legislatures or voters face a proposed wealth tax<\/a> without significant public debate and analysis, wealth taxes stand a real chance of enactment,\u201d said Russ Sullivan, who leads the tax-policy practice at Brownstein. \u201cThe closer the voters examine the real impact \u2013 such as California billionaires moving to Florida \u2013 the chances of a wealth tax becoming law fade,\u201d said Sullivan.<\/p>\n Some of these proposals seek to tax unrealized gains and live in the shadow of the \u201cBillionaires Income Tax Act<\/a>,\u201d first introduced in Congress by Senator Ron Wyden (D-OR), which has now also been introduced in the House of Representatives.<\/p>\n We\u2019ve compiled a chart (Family Enterprise USA Wealth Tax Tracker<\/a>) of the latest news from key states. Here are a few highlights:<\/p>\n Other proposals to watch are centered around new incentives to encourage businesses to provide paid leave for employees, indexing capital gains, proposals to repeal the federal estate tax, potential wealth taxes<\/a> on unrealized gains, and new and modified regulations that can increase compliance cost on business operations.<\/p>\n Keeping our eye on the ball and advocating for family-owned businesses is a full contact sport in Washington and state capitals across the nation, and in 2026 we must engage and defeat tax proposals that will discourage successful entrepreneurs from taking economic risks that create jobs and improve communities across the country.<\/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=”on|on|on” _builder_version=”4.27.4″ _module_preset=”default” disabled=”on” 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 #FEUSA<\/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 USAReconciliation 2.0, State Wealth Taxes \u2018In Play\u2019 for 2026 Legislative Sessions; Monitoring is Key to Winning The main sport in Washington, D.C., is predicting what new tax and economic proposals will gain momentum or get sacked. It\u2019s important we\u2019re in the game monitoring the good, bad, […]<\/p>\n","protected":false},"author":2,"featured_media":16538,"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":[48,3,92,94,115],"tags":[],"class_list":["post-16536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-feusa","category-multi-generational-business","category-pat-soldano","category-wealth-tax"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/16536","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=16536"}],"version-history":[{"count":5,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/16536\/revisions"}],"predecessor-version":[{"id":16561,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/16536\/revisions\/16561"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/16538"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n<\/strong>President<\/em>
\nFamily Enterprise USA<\/p>\nReconciliation 2.0, State Wealth Taxes \u2018In Play\u2019 for 2026 Legislative Sessions; Monitoring is Key to Winning<\/strong><\/h2>\n
The main sport in Washington, D.C., is predicting what new tax and economic proposals will gain momentum or get sacked.<\/strong><\/em><\/h3>\n
Here\u2019s what the RSC says about the scope of its package of proposals:<\/p>\n\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
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