<\/p>\n
Lawmakers Push for Indexing Capital Gains:<\/strong> Last week, Sens. Ted Cruz (R\u2011TX) and Tim Scott (R\u2011SC) sent a\u00a0letter<\/a>\u00a0to Treasury Secretary Scott Bessent urging the Treasury Department to index capital gains taxes to inflation. They said the move would promote economic growth and ease housing shortages by encouraging long\u2011term homeowners to sell. The lawmakers also argued that the Treasury Department has the authority to define cost basis in a way that would allow investors selling assets such as stocks or real estate to adjust their original purchase price to eliminate the taxation of gains attributable to inflation. Read the Full Story.<\/a><\/span><\/p>\n Kelly, Blumenthal Introduce the Gas Prices Relief Act:<\/strong> On March 9, Sens. Mark Kelly (D-AZ) and Richard Blumenthal (D-CT) introduced\u00a0S. 4032<\/a>, the Gas Prices Relief Act. The\u00a0bill<\/a> would create a temporary federal gasoline tax holiday by setting the 18.4 cent federal excise gas tax (including the Leaking Underground Storage Tank financing rate) to zero from the date of enactment through Sept. 30, 2026. It would replenish the Highway Trust Fund and Leaking Underground Storage Tank Trust Fund from general revenues, protecting against any funding losses. Read the Full Story.<\/span><\/a><\/p>\n Treasury Department Plans International Tax Guidance for Q2 and Q3:<\/strong> By mid\u20112026, the Treasury Department plans to issue a series of proposed regulations updating the international tax rule for the modification adopted in the OBBBA. The upcoming proposals will cover section 250 foreign\u2011derived income exclusions, section 951 rules for calculating U.S. shareholders\u2019 foreign income, and section 898 guidance on foreign tax allocations after tax\u2011year changes. The Treasury Department is also reconsidering section 892 rules on how income earned by foreign governments through U.S. investment is taxed. Read the Full Story.<\/span><\/a><\/p>\n Van Hollen Introduces Millionaire Tax Proposal:<\/strong> Sen. Chris Van Hollen (D-MD) proposed a plan that would eliminate federal income taxes for workers earning at or below a \u201cliving wage\u201d (about $46,000 for single filers and $92,000 for married couples). The plan would offset the resulting revenue loss by imposing a new surtax: 5% on income above $1 million, 10% above $2 million and 12% above $5 million. Read the Full Story.<\/span><\/a><\/p>\n Tax Foundation Analyzes Sanders Wealth Tax Proposal:<\/strong> Last week, the Tax Foundation issued an\u00a0analysis<\/a>\u00a0of Sen. Bernie Sanders\u2019 (I-VT) wealth tax\u00a0proposal<\/a>, which would impose an annual 5% tax on the net value of a taxpayer\u2019s assets exceeding $1 billion. Supporters of the proposal, economists Emmanuel Saez and Gabriel Zucman, projected the legislation would raise $4.4 trillion over 10 years (1.2% of GDP annually) with only 10% evasion, but more realistic models predict significantly less. The Tax Foundation estimated that it would raise $3.3 trillion assuming 33% evasion or $2.3 trillion factoring baseline avoidance and behavioral responses, due to high incentives for evasion, threshold distortions and asset shifts to consumption. Read the Full Story.<\/span><\/a><\/p>\n [\/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=”Brownstein Hyatt Farber Schreck Logo & About” _builder_version=”4.22.1″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/www.bhfs.com\/” link_option_url_new_window=”on” border_color_all=”#FFFFFF” border_style_all=”none” global_module=”6751″ global_colors_info=”{}”]<\/p>\n About Brownstein Hyatt Farber Schreck [\/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=”4.27.4″ 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 color=”#397389″ divider_style=”dotted” divider_weight=”2px” 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 2″ _builder_version=”4.27.4″ _module_preset=”default” disabled=”on” global_module=”6670″ global_colors_info=”{}”][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=y9VszpRjVDM” _builder_version=”4.19.4″ _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=03T2VODneEg” _builder_version=”4.19.4″ _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=fHIxWaTwK64″ _builder_version=”4.19.4″ _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=TI7P07GbNdU&t=27s” _builder_version=”4.19.4″ _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":" House Republicans Begin Discussions on Reconciliation 2.0: Last week, House Republican leaders agreed to try to advance a second reconciliation bill this year, but they remain deeply divided over what policies to include and how to pay for them. Speaker Mike Johnson (R-LA) and House Budget Committee Chairman Jodey Arrington (R-TX) are pushing the effort […]<\/p>\n","protected":false},"author":2,"featured_media":16703,"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":[48,92,36,115],"tags":[],"class_list":["post-16700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-multi-generational-business","category-taxes","category-wealth-tax"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/16700","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=16700"}],"version-history":[{"count":3,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/16700\/revisions"}],"predecessor-version":[{"id":16711,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/16700\/revisions\/16711"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/16703"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/familyenterpriseusa.com\/wp-content\/uploads\/2023\/04\/brownstein-logo-positive-RGB.png\" "\\"\\""){kind=logo}
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<\/strong>Brownstein Hyatt Farber Schreck is a unique law firm. Walk into any of our offices and you\u2019ll immediately recognize a different type of energy. Complacency doesn\u2019t have a place here. Flexibility and inspiration do.\u00a0Our culture and enthusiasm allow our attorneys, policy consultants and legal staff to stay ahead of our clients\u2019 needs and provide them with the resources they require to meet their business objectives.<\/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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