{"id":5452,"date":"2022-06-15T13:22:44","date_gmt":"2022-06-15T20:22:44","guid":{"rendered":"https:\/\/familyenterpriseusa.com\/?p=5452"},"modified":"2022-06-15T13:31:07","modified_gmt":"2022-06-15T20:31:07","slug":"treasury-department-fiscal-year-2023-budget-tax-policy-update","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/taxes\/treasury-department-fiscal-year-2023-budget-tax-policy-update\/","title":{"rendered":"Treasury Department Fiscal Year 2023 Budget. Tax Policy Update."},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.16&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_button button_url=&#8221;https:\/\/familyenterpriseusa.com\/2022-annual-family-business-survey\/&#8221; button_text=&#8221;Do You Have 5 Minutes To Help Your Multi-Generational Business?&#8221; button_alignment=&#8221;center&#8221; disabled_on=&#8221;on|on|on&#8221; admin_label=&#8221;Call to Action Button&#8221; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; custom_button=&#8221;on&#8221; disabled=&#8221;on&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_button][et_pb_divider _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_divider][et_pb_text admin_label=&#8221;Content&#8221; _builder_version=&#8221;4.17.4&#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; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h2>Treasury Secretary Janet Yellen testified before the Senate Finance Committee and the House Ways and Means Committee this week to discuss the Biden administration&#8217;s fiscal year 2023 budget proposal for the Treasury Department.<\/h2>\n<h3>She appeared first before the Senate Finance Committee, testifying on\u00a0Tuesday, June 7 at a hearing entitled\u00a0\u201c<a href=\"https:\/\/comms.bhfs.com\/collect\/click.aspx?u=bkdSdzhSMjhzVkpaT3FJc2o4Wi9FOFp5dFlFcEdXWWx3UDVncE4zS1RHTjlXaDN4aC90S1Qzc1ZVU1VPRGJWajZqYjhpQW5KUzJHbGhKalR2ZHlMSkt6NDJWMndOY1NzMCtxeVNRVW9MUUIwNzhpZWJmSHJlRDdJdXlFZkhpbkNvVUpIYTROckJUVithMG1Fa1ZhWk13PT0=&amp;rh=ff00929ec6dc1f3e2ee2182e9f409060e4c1f661\" target=\"_blank\" rel=\"noopener\">The President\u2019s Fiscal Year 2023 Budget<\/a>.\u201d<\/h3>\n<p>The discussion focused on risks posed by inflation, controlling the rise in food and energy prices, a potential international tax agreement and reforming tax legislation to better support low- and middle-income families. Click\u00a0<a href=\"https:\/\/comms.bhfs.com\/collect\/click.aspx?u=bkdSdzhSMjhzVkpaT3FJc2o4Wi9FOFp5dFlFcEdXWWx3UDVncE4zS1RHTnVreTgwMVJFYWE0MFlGMFNDUG9JRDc2MlBETkJNejRWTDhZNVZoZ1Fub3d2azdDMW5mQ0ZKQnlSWWQyZWJjY2tnNnFXYy9NMllVL1AxUDVvT2xINytpdFBXVEg4WWN5aHJSU01RVEZHdkM3Z0FKQTU2ZUdIMQ==&amp;rh=ff00929ec6dc1f3e2ee2182e9f409060e4c1f661\" target=\"_blank\" rel=\"noopener\">here<\/a>\u00a0for a full readout of the Senate Finance Committee hearing.<\/p>\n<p>She appeared before the House Ways and Means Committee on Wednesday, June 8 at a hearing entitled &#8220;<a href=\"https:\/\/comms.bhfs.com\/collect\/click.aspx?u=bkdSdzhSMjhzVkpaT3FJc2o4Wi9FOFp5dFlFcEdXWWx3UDVncE4zS1RHT1pUUW5YWEVqcGoycFc2bmJyd0pPZ3krVnZZSVViKzhhRGZWckpKWXV5T1hhdDNRUVJyUk0vcmt5blRvZk1XQkN6SVpydVpFZ21meHJSZHJMNC9oZDd0UnNMMFBqZWpBdkNWRnVkZVRZSisxczdIayszVVpGeURoYnRIdHQvckNBVkpUMVI5VktvV0E2MkU2bkM0UEph&amp;rh=ff00929ec6dc1f3e2ee2182e9f409060e4c1f661\" target=\"_blank\" rel=\"noopener\">Proposed Fiscal Year 2023 Budget with Treasury Secretary Janet Yellen<\/a>.&#8221; During this hearing, the discussion\u00a0focused on the potential international tax agreement, mitigating the impacts of rising food and energy prices, controlling inflationary pressures and the tax reforms included in the president\u2019s budget request. Click\u00a0<a href=\"https:\/\/comms.bhfs.com\/collect\/click.aspx?u=bkdSdzhSMjhzVkpaT3FJc2o4Wi9FOFp5dFlFcEdXWWx3UDVncE4zS1RHTnVreTgwMVJFYWE0MFlGMFNDUG9JRFpuZHVzNG5pSnZTTFY3TmhhZlFmRWlDejVGekZGcFRuMUVYWUpGRFc1cXljalFvOWNjM2tOWDQ4Q01tRmp3VE81UXUzdzU5T1I1MEhLY04zZ1RnUGZFbkdVelQwZS9vWVgzanFWeEtzUjdFPQ==&amp;rh=ff00929ec6dc1f3e2ee2182e9f409060e4c1f661\" target=\"_blank\" rel=\"noopener\">here<\/a>\u00a0for a full readout of the House Ways and Means Committee hearing.<\/p>\n<p>[\/et_pb_text][et_pb_text disabled_on=&#8221;off|off|off&#8221; admin_label=&#8221;Credit&#8221; _builder_version=&#8221;4.17.4&#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; link_option_url=&#8221;https:\/\/comms.bhfs.com\/rv\/ff00929ec6dc1f3e2ee2182e9f409060e4c1f661&#8243; link_option_url_new_window=&#8221;on&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h3 style=\"text-align: center;\"><strong>Our thanks to Brownstein Hyatt Farber Schreck for this report.\u00a0 Click here to read more.<\/strong><\/h3>\n<p>[\/et_pb_text][et_pb_divider disabled_on=&#8221;on|on|on&#8221; _builder_version=&#8221;4.17.4&#8243; _module_preset=&#8221;default&#8221; disabled=&#8221;on&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_divider][et_pb_button button_url=&#8221;https:\/\/familyenterpriseusa.com\/2022-annual-family-business-survey\/&#8221; button_text=&#8221;Have Your Voice Heard in Congress. Please Take Action Today!!!&#8221; button_alignment=&#8221;center&#8221; disabled_on=&#8221;on|on|on&#8221; admin_label=&#8221;Call to Action Button&#8221; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; custom_button=&#8221;on&#8221; disabled=&#8221;on&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_button][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.16&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text admin_label=&#8221;FEUSA Statement&#8221; _builder_version=&#8221;4.16&#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; global_colors_info=&#8221;{}&#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;4.16&#8243; _module_preset=&#8221;default&#8221; custom_button=&#8221;on&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_button][et_pb_video src=&#8221;https:\/\/www.youtube.com\/watch?v=QYHXI9SiyQA&#8221; _builder_version=&#8221;4.17.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_video][et_pb_text admin_label=&#8221;Hash tags &#038; Tags&#8221; _builder_version=&#8221;4.17.4&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<p><span>@FamilyEnterpriseUSA @PolicyAndTaxationGroup @DitchTheEstateTax #FamilyBusiness #Business #SmallBiz #EstateTax #Deathtax #CapitalGainsTax #StepUpInBasis #Taxes #gifttax #Generationskippingtax #InheritanceTax #repealestatetax #promotefamilybusinesses #taxLegislation #AdvocatingForFamilyBusinesses #incometax #Generationallyowned #Multigenerationalbusiness #taxes #taxseason #federaltaxpolicy #FamilyEnterpriseUSA #PolicyAndTaxationGroup #DitchTheEstateTax<\/span><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Treasury Secretary Janet Yellen testified before the Senate Finance Committee and the House Ways and Means Committee this week to discuss the Biden administration&#8217;s fiscal year 2023 budget proposal for the Treasury Department. She appeared first before the Senate Finance Committee, testifying on\u00a0Tuesday, June 7 at a hearing entitled\u00a0\u201cThe President\u2019s Fiscal Year 2023 Budget.\u201d The [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":5455,"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":[78,76,36],"tags":[],"class_list":["post-5452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-the-news","category-income-taxes","category-taxes"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/5452","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=5452"}],"version-history":[{"count":4,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/5452\/revisions"}],"predecessor-version":[{"id":5461,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/5452\/revisions\/5461"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/5455"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}