{"id":3534,"date":"2021-05-13T18:39:02","date_gmt":"2021-05-14T01:39:02","guid":{"rendered":"https:\/\/familyenterpriseusa.com\/?p=3534"},"modified":"2021-05-14T09:09:05","modified_gmt":"2021-05-14T16:09:05","slug":"breaking-new-bipartisan-estate-tax-rate-reduction-bill-introduced-in-both-house-and-senate-today","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/feusa\/breaking-new-bipartisan-estate-tax-rate-reduction-bill-introduced-in-both-house-and-senate-today\/","title":{"rendered":"BREAKING NEWS!! Bipartisan Estate Tax Rate Reduction Bill introduced in both House and Senate today!"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;3.22&#8243;][et_pb_row _builder_version=&#8221;3.25&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;3.25&#8243; custom_padding=&#8221;|||&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text admin_label=&#8221;Content&#8221; _builder_version=&#8221;4.9.3&#8243; text_font=&#8221;||||||||&#8221; text_font_size=&#8221;16px&#8221; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221;]<\/p>\n<h2>Earlier today, Congressman Jodey Arrington (R-TX) and Congressman Henry Cuellar (D-TX) and Senator Tom Cotton (R-AR), on a bipartisan, bicameral basis, introduced the Estate Tax Rate Reduction Act of 2021. This legislation would reduce the estate, gift and generation skipping tax rate to 20-percent, while maintaining step-up in basis.<\/h2>\n<h3>This important piece of legislation would also reduce the burden that the estate tax places on family-owned businesses and their employees. The unofficial legislative text and a summary of the legislation are attached, along with PATG\u2019s press release on the bill\u2019s introduction.<\/h3>\n<p>Thanks to a study commissioned earlier this year by FEUSA, we know that family-owned businesses across the country employ 83.3 million people or 59 percent of the workforce. Family-owned businesses also generate 54-percent of the GDP or $7.7 trillion, and this legislation will help them to continue to do so.<\/p>\n<p>Please join us in commending Representatives Arrington and Cuellar and Senator Cotton for taking the lead on this important issue.<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;1_3,1_3,1_3&#8243; _builder_version=&#8221;4.9.3&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221;][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;3.25&#8243; custom_padding=&#8221;|||&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_button button_url=&#8221;https:\/\/familyenterpriseusa.com\/wp-content\/uploads\/2021\/05\/Estate-Tax-Rate-Reduction-Act-of-2021-PATG-Press-Release.pdf&#8221; url_new_window=&#8221;on&#8221; button_text=&#8221;Read Press Release&#8221; button_alignment=&#8221;center&#8221; admin_label=&#8221;Press release&#8221; _builder_version=&#8221;4.9.3&#8243; _module_preset=&#8221;default&#8221; custom_button=&#8221;on&#8221;][\/et_pb_button][\/et_pb_column][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;3.25&#8243; custom_padding=&#8221;|||&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_button button_url=&#8221;https:\/\/familyenterpriseusa.com\/wp-content\/uploads\/2021\/05\/Estate-Tax-Rate-Reduction-Act-One-Pager.pdf&#8221; url_new_window=&#8221;on&#8221; button_text=&#8221;Estate Tax Rate Reduction Bill One Pager&#8221; button_alignment=&#8221;center&#8221; admin_label=&#8221;One pager&#8221; _builder_version=&#8221;4.9.3&#8243; _module_preset=&#8221;default&#8221; custom_button=&#8221;on&#8221;][\/et_pb_button][\/et_pb_column][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;3.25&#8243; custom_padding=&#8221;|||&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_button button_url=&#8221;https:\/\/familyenterpriseusa.com\/wp-content\/uploads\/2021\/05\/2021-Estate-Tax-Rate-Reduction-Bill.pdf&#8221; url_new_window=&#8221;on&#8221; button_text=&#8221;Estate Tax Rate Reduction Bill&#8221; button_alignment=&#8221;center&#8221; admin_label=&#8221;Bill&#8221; _builder_version=&#8221;4.9.3&#8243; _module_preset=&#8221;default&#8221; custom_button=&#8221;on&#8221;][\/et_pb_button][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;3.25&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;3.25&#8243; custom_padding=&#8221;|||&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text admin_label=&#8221;FEUSA Statement&#8221; _builder_version=&#8221;4.8.2&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; link_option_url=&#8221;https:\/\/familyenterpriseusa.com\/donate-2\/&#8221;]<\/p>\n<hr \/>\n<p><a href=\"https:\/\/familyenterpriseusa.com\/membership\/\">Family Enterprise USA<\/a> advocates for American Family business. We help family businesses communicate their challenges and contributions to American economic freedom to Legislators. We represent all American family businesses; not just specific industries and provide research to enhance the opportunity for success. We help family businesses continue to establish their unique business legacy. Family Enterprise USA is a 501(c)(3) non-profit organization.. <a href=\"https:\/\/familyenterpriseusa.com\/membership\/\">Family foundations can donate.<\/a><\/p>\n<hr \/>\n<p>[\/et_pb_text][et_pb_button button_url=&#8221;https:\/\/familyenterpriseusa.com\/donate-2\/&#8221; button_text=&#8221;Are you an FEUSA Member?  If not, get in on the movement today!&#8221; button_alignment=&#8221;center&#8221; admin_label=&#8221;Call to Action Button&#8221; _builder_version=&#8221;4.9.3&#8243; _module_preset=&#8221;default&#8221; custom_button=&#8221;on&#8221;][\/et_pb_button][et_pb_video src=&#8221;https:\/\/www.youtube.com\/watch?v=Bh5svKqE-1M&#8221; _builder_version=&#8221;4.9.3&#8243; _module_preset=&#8221;default&#8221;][\/et_pb_video][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Earlier today, Congressman Jodey Arrington (R-TX) and Congressman Henry Cuellar (D-TX) and Senator Tom Cotton (R-AR), on a bipartisan, bicameral basis, introduced the Estate Tax Rate Reduction Act of 2021. This legislation would reduce the estate, gift and generation skipping tax rate to 20-percent, while maintaining step-up in basis. This important piece of legislation would [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":3360,"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":[43,48,3,78,76,36],"tags":[],"class_list":["post-3534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-estate-taxes","category-family-businesses","category-feusa","category-in-the-news","category-income-taxes","category-taxes"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/3534","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=3534"}],"version-history":[{"count":10,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/3534\/revisions"}],"predecessor-version":[{"id":3551,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/3534\/revisions\/3551"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/3360"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}