{"id":17206,"date":"2026-05-04T17:44:17","date_gmt":"2026-05-05T00:44:17","guid":{"rendered":"https:\/\/familyenterpriseusa.com\/?p=17206"},"modified":"2026-05-04T17:47:40","modified_gmt":"2026-05-05T00:47:40","slug":"taxation-representation-budget-2-0-drops-this-week-199a-hike-ice-funding","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/family-businesses\/taxation-representation-budget-2-0-drops-this-week-199a-hike-ice-funding\/","title":{"rendered":"Taxation & Representation: Budget 2.0 drops this week: 199A hike + ICE funding"},"content":{"rendered":"

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Budget Reconciliation 2.0 \u2026 and 3.0?: Last week, the Senate completed its consideration of the FY2026 budget resolution, with a vote-a-rama and passage of\u00a0S.Con.Res.33<\/a>. The budget resolution sets the stage for a second reconciliation bill focused on homeland security funding. In the House, Republican leadership is working to keep the budget resolution narrowly focused on funding Immigration and Customs Enforcement (ICE) and the Border Patrol, leaving broader Customs and Border Protection (CBP) funding for the regular appropriations process, to ensure swift passage via reconciliation. <\/strong>Dive Into The Details<\/span><\/span><\/strong><\/a><\/h2>\n

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Bipartisan House Tax Bills Advance to the Senate: On Monday, the House advanced seven bipartisan tax bills\u00a0by voice votes that aim to enhance Internal Revenue Service (IRS) efficiency, taxpayer services and targeted relief. The House also passed changes to whistleblower protections by an overwhelming 346-10 bipartisan vote. <\/strong><\/em>Dive Into The Details<\/span><\/span><\/strong><\/em><\/a><\/h3>\n

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Bessent Testifies before Senate FSGG Appropriations Subcommittee: On April 22, the Senate Appropriations Financial Services and General Government (FSGG) Subcommittee held a hearing to review President Trump\u2019s FY2027 Treasury Department budget request, which proposes an 8.3% funding cut form FY2026. Treasury Secretary Scott Bessent testified on implementation of the One Big Beautiful Bill Act (OBBBA), including larger average tax refunds, upcoming IRS guidance on family-leave credits, and scholarship-organization certifications. Dive Into The Details<\/strong><\/span><\/span><\/a><\/p>\n

Kustoff Introduces Small Business Tax Cut Act: On April 23, Rep. David Kustoff (R-TN) introduced the Small Business Tax Cut Act (H.R. 8415<\/a>), which\u00a0would<\/a> expand the section 199A qualified business income deduction for pass-throughs by raising the deduction from 20% to 23%. The bill would also update income thresholds and phaseouts as well as broaden eligibility, including for specified service trades or businesses and certain business development company dividends.\u00a0<\/span>Dive Into The Details<\/strong><\/span><\/span><\/a><\/p>\n

Evans Introduces Rehabilitation of Historic Schools Act Bill: On April 27, Rep. Dwight Evans (D-PA) reintroduced the Rehabilitation of Historic Schools Act (H.R. 8501<\/a>), which\u00a0would<\/a> expand the federal historic rehabilitation tax credit to include public school buildings. The bill is intended to help finance repairs of health hazards like lead, mold and asbestos while modernizing HVAC systems. Dive Into The Details<\/span><\/strong><\/span><\/a><\/p>\n

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Trump Threatens UK Tariffs Over Digital Tax: In a press conference on April 24, President Trump said that the United States will impose \u201cbig tariffs\u201d on the United Kingdom (UK) unless it drops its 2% digital services tax (DST) on revenues from search engines, social media and online marketplaces deriving value from UK users. \u00a0Dive Into The Details<\/strong><\/span><\/span><\/a><\/p>\n

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About Brownstein Hyatt Farber Schreck
<\/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>\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 #FEUSA<\/p>\n

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Budget Reconciliation 2.0 \u2026 and 3.0?: Last week, the Senate completed its consideration of the FY2026 budget resolution, with a vote-a-rama and passage of\u00a0S.Con.Res.33. The budget resolution sets the stage for a second reconciliation bill focused on homeland security funding. In the House, Republican leadership is working to keep the budget resolution narrowly focused on […]<\/p>\n","protected":false},"author":2,"featured_media":17211,"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],"tags":[],"class_list":["post-17206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-multi-generational-business"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/17206","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=17206"}],"version-history":[{"count":4,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/17206\/revisions"}],"predecessor-version":[{"id":17214,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/17206\/revisions\/17214"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/17211"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}