{"id":5973,"date":"2022-08-19T17:23:56","date_gmt":"2022-08-20T00:23:56","guid":{"rendered":"https:\/\/familyenterpriseusa.com\/?p=5973"},"modified":"2022-08-19T17:24:02","modified_gmt":"2022-08-20T00:24:02","slug":"saying-it-out-loud-by-pat-soldano-august-2022","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/feusa\/saying-it-out-loud-by-pat-soldano-august-2022\/","title":{"rendered":"Saying It Out Loud, By Pat Soldano. August 2022."},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.16″ custom_padding=”22px|||||” global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_button button_url=”https:\/\/www.ditchtheestatetax.com\/contact-congress-2\/” url_new_window=”on” button_text=”Send an Email To Congress Asking Them To Help Ditch The Estate Tax” button_alignment=”center” disabled_on=”off|off|off” admin_label=”Call to Action Button” _builder_version=”4.18.0″ _module_preset=”default” custom_button=”on” global_colors_info=”{}”][\/et_pb_button][et_pb_divider _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”Content” _builder_version=”4.18.0″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]<\/p>\n

The Importance of Actions Not Taken<\/h2>\n

Sometimes the results of advocacy are invisible. But make no mistake: Advocacy works!<\/h3>\n

It looks like the Senate may have cut a deal with Senator Manchin that is going to raise taxes, but thankfully not on family businesses.<\/p>\n

Rest assured there were many, many meetings to fight back against such actions.<\/p>\n

You won\u2019t see this work in the bill. This invisible, behind the scenes work includes stopping a new 3.8% tax on non-passive, or operating income. Operating income is the income of family businesses. This proposed tax was called the Net Investment Income Tax. It was dropped in the proposal.<\/p>\n

That\u2019s not all that was stopped.<\/p>\n

A 3% income surtax on trusts and estates that earn more than $200,000 was dropped. And another 5% income surtax on trusts and estates earning more than $500,000 was nixed.<\/p>\n

Senator Manchin made it clear: No tax on small businesses.<\/p>\n

In addition, proposals originally included in the House BBB Act and in President Biden\u2019s Budget, that would have crippled family business, were not included in this proposal.<\/p>\n

It can be tedious, tiring, and frustrating work to meet with your Members of Congress. You may think it doesn\u2019t work, but it does, as evidenced by these recent behind-the-scenes successes.<\/p>\n

Telling your representatives about the economic damage of what they are proposing can, and does, change outcomes. Their ears do perk up when they are told about the jobs lost, the family legacies eliminated, and the community support destroyed.<\/p>\n

Your voice matters. It changes outcomes.<\/p>\n

Be persistent, focus on your objective and don\u2019t give up!<\/p>\n

[\/et_pb_text][et_pb_divider disabled_on=”on|on|on” _builder_version=”4.16″ _module_preset=”default” disabled=”on” global_colors_info=”{}”][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”FEUSA Statement” _builder_version=”4.17.6″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_module=”5910″ global_colors_info=”{}”]<\/p>\n

\n

Family Enterprise USA<\/a> Family Enterprise USA promotes family business and job creation, growth, viability, and sustainability by advocating for family businesses, their lifetime of savings, and the issues they face running their businesses every day. The issues we fight for or against with Congress in Washington DC are high Income Tax Rates, possible elimination of Valuation Discounts, increase in Capital Gains Tax, enactment of a Wealth Tax, and the continued burden of the Estate Tax (death tax), and with the possible elimination of Step up in Basis. Family Enterprise USA represents and celebrates all sizes, and industries of family businesses and multi-generational employers.<\/p>\n

Family Enterprise USA is a 501(c)(3) non-profit organization. Family foundations can donate.<\/a><\/p>\n

\n

[\/et_pb_text][et_pb_text admin_label=”Become a member text” _builder_version=”4.17.6″ 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

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 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’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. The issues we fight for or against with Congress in Washington DC are high Income Tax Rates, possible elimination of Valuation Discounts, increase in Capital Gains Tax, enactment of a Wealth Tax, and the continued burden of the Estate Tax (death tax), and with the possible elimination of Step up in Basis.<\/p>\n

[\/et_pb_text][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” button_text=”Become a Family Enterprise USA Member” button_alignment=”center” admin_label=”Call to Action Button” _builder_version=”4.17.0″ _module_preset=”default” custom_button=”on” global_colors_info=”{}”][\/et_pb_button][et_pb_video_slider admin_label=”Family Business Stories Video Slider” _builder_version=”4.17.6″ _module_preset=”default” global_module=”5963″ global_colors_info=”{}”][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=TI7P07GbNdU&t=27s” _builder_version=”4.17.6″ _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=tmxFubyBiHA&t=10s” _builder_version=”4.17.6″ _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=LyZMrONDbPE&t=18s” _builder_version=”4.17.6″ _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=L5QmaJqcm4Y&t=1s” _builder_version=”4.17.6″ _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=3k9d1tFz5AU&t=22s” _builder_version=”4.17.6″ _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=kG0lDKbmJxg” _builder_version=”4.17.6″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src_webm=”https:\/\/www.youtube.com\/watch?v=bsn5xYrxhJg” _builder_version=”4.17.6″ _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=HFK8SG1VSco” _builder_version=”4.17.6″ _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=Z15BqbFOYck” _builder_version=”4.17.6″ _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=PL3K3rK7ioA&t=5s” _builder_version=”4.17.6″ _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=CpXRbRBhPKc” _builder_version=”4.17.6″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][\/et_pb_video_slider][et_pb_text admin_label=”Hash tags & Tags” _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

@FamilyEnterpriseUSA @PolicyAndTaxationGroup @DitchTheEstateTax #FamilyBusiness #Business #SmallBiz #EstateTax #Deathtax #CapitalGainsTax #StepUpInBasis #Taxes #gifttax #Generationskippingtax #InheritanceTax #repealestatetax #promotefamilybusinesses #taxLegislation #AdvocatingForFamilyBusinesses #incometax #Generationallyowned #Multigenerationalbusiness #taxseason #federaltaxpolicy #FamilyEnterpriseUSA #PolicyAndTaxationGroup #DitchTheEstateTax<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"

The Importance of Actions Not Taken Sometimes the results of advocacy are invisible. But make no mistake: Advocacy works! It looks like the Senate may have cut a deal with Senator Manchin that is going to raise taxes, but thankfully not on family businesses. Rest assured there were many, many meetings to fight back against […]<\/p>\n","protected":false},"author":2,"featured_media":5976,"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":[48,3,92,78,94],"tags":[],"class_list":["post-5973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-feusa","category-multi-generational-business","category-in-the-news","category-pat-soldano"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/5973","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=5973"}],"version-history":[{"count":3,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/5973\/revisions"}],"predecessor-version":[{"id":5979,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/5973\/revisions\/5979"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/5976"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}