{"id":5836,"date":"2022-08-07T20:33:09","date_gmt":"2022-08-08T03:33:09","guid":{"rendered":"https:\/\/familyenterpriseusa.com\/?p=5836"},"modified":"2022-08-07T20:33:16","modified_gmt":"2022-08-08T03:33:16","slug":"senate-concludes-vote-a-rama-passes-inflation-reduction-act-taxation-representation","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/taxes\/senate-concludes-vote-a-rama-passes-inflation-reduction-act-taxation-representation\/","title":{"rendered":"Senate Concludes Vote-a-Rama, Passes Inflation Reduction Act. Taxation &#038; Representation."},"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\/polling-and-research\/do-not-impose-a-net-investment-income-tax-on-non-passive-business-income\/&#8221; button_text=&#8221;Join other hard-working American taxpayers in asking Congress NOT to punish success, taking a lifetime of savings.&#8221; button_alignment=&#8221;center&#8221; disabled_on=&#8221;off|off|off&#8221; admin_label=&#8221;Call to Action Button&#8221; _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; custom_button=&#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;4.17.6&#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>The Senate voted to pass the $750 billion Inflation Reduction Act (H.R. 5376) along party lines (51-50) this afternoon, concluding a marathon session that\u00a0<a href=\"https:\/\/comms.bhfs.com\/rv\/ff009657a916694379a7a630f548847f282530cb\" target=\"_blank\" rel=\"noopener\">began<\/a>\u00a0Saturday evening. As expected, Vice President Kamala Harris cast the tie-breaking vote to approve the bill.<\/h2>\n<h3>The legislation will now be sent to the House of Representatives for consideration. House leadership announced last week that the chamber will return on Friday, Aug. 12 to vote on H.R. 5376. The House is not expected to make further changes to the legislation, and House passage of an unaltered bill would send it to President Joe Biden\u2019s desk for final signature.<\/h3>\n<p>The Senate concluded its vote-a-rama on H.R. 5376 earlier today after approximately 15 hours of activity. The vote-a-rama was preceded by four hours of debate on the bill. Click\u00a0<a href=\"https:\/\/comms.bhfs.com\/collect\/click.aspx?u=Qm13czg3c2lScDFNOHN0OXRiZzhRN0ZNZ0FOWTVsRmdYMmxiSjR1Y2YyY29iMlJMdzYwWWk4enpQQjZtUjZmYjhUTFlaeHRIbDU3TWhrZnJ6M24zZFhnV1p2ZGxQYXFMZkcyQjdqNHlzZGpZSWpuSHhkZVhFd2dDS1RIeGlxbHJ1bWp3N0NYWEpZTG9ia2E1VVpYWkVrRDBCOXFiTko0bGQ5VW9SRnIvdjE4PQ==&amp;rh=ff009657d1cb217ab889e9e8ca438484a509ba0e\" target=\"_blank\" rel=\"noopener\">here<\/a>\u00a0to see our final vote-a-rama tracker, which includes descriptions of the amendments, notes on discussion and information on final votes.<\/p>\n<p>To read more about the amendments and the process of their passage, please click below.<\/p>\n<p>[\/et_pb_text][et_pb_text disabled_on=&#8221;off|off|off&#8221; admin_label=&#8221;Credit&#8221; _builder_version=&#8221;4.17.6&#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\/ff009657d1cb217ab889e9e8ca438484a509ba0e&#8221; 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. Read more about the amendments and the process of their passage.<\/strong><\/h3>\n<p>[\/et_pb_text][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_divider disabled_on=&#8221;off|off|off&#8221; _builder_version=&#8221;4.17.6&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; sticky_enabled=&#8221;0&#8243;][\/et_pb_divider][et_pb_text admin_label=&#8221;Become a member text&#8221; _builder_version=&#8221;4.17.6&#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_module=&#8221;5822&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h4><em>We hope you&#8217;ve enjoyed this article. While you&#8217;re here, we have a small favor to ask&#8230;<\/em><\/h4>\n<p>As we prepare for what promises to be a pivotal year for America, we&#8217;re asking you to consider becoming a member.<\/p>\n<p>The need for fact-based reporting of issues important to multi generational businesses and protecting a lifetime of savings has never been greater. Now more than ever, multi generational businesses and family businesses are under fire. That&#8217;s why Family Enterprise USA is passionately working to increase the awareness of issues important to generationally-owned family businesses built on hard work, while continuing to strengthen our presence on Capitol Hill.\u00a0 Those issues include Step Up in Basis, gift tax, Valuation Discounts, Capital Gains Tax, Income Tax Rates, Wealth Tax, &amp; Estate Tax (death tax).<\/p>\n<p>[\/et_pb_text][et_pb_text admin_label=&#8221;FEUSA Statement&#8221; _builder_version=&#8221;4.17.6&#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>\u00a0promotes family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington DC. Family Enterprise USA represents and celebrates all sizes, professions and industries of family businesses and multi-generational employers.<\/p>\n<p>Family Enterprise USA is the organization that represents all family businesses on a national level in DC; it is not unique to any industry. Family Enterprise USA is different from other organizations because it represents and advocates for the families of family businesses, generationally owned businesses, and multigenerational businesses, and the issues, they face running their businesses every day including Step Up in Basis, gift tax, Valuation Discounts, Capital Gains Tax, Income Tax Rates, Wealth Tax, &amp; Estate Tax (death tax).<\/p>\n<p>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=HFK8SG1VSco&#8221; _builder_version=&#8221;4.17.6&#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;4.17.6&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>@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<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Senate voted to pass the $750 billion Inflation Reduction Act (H.R. 5376) along party lines (51-50) this afternoon, concluding a marathon session that\u00a0began\u00a0Saturday evening. As expected, Vice President Kamala Harris cast the tie-breaking vote to approve the bill. The legislation will now be sent to the House of Representatives for consideration. House leadership announced [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":5838,"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-5836","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\/5836","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=5836"}],"version-history":[{"count":4,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/5836\/revisions"}],"predecessor-version":[{"id":5844,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/5836\/revisions\/5844"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/5838"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}