{"id":9621,"date":"2023-11-20T14:14:48","date_gmt":"2023-11-20T22:14:48","guid":{"rendered":"https:\/\/familyenterpriseusa.com\/?p=9621"},"modified":"2023-11-20T14:14:53","modified_gmt":"2023-11-20T22:14:53","slug":"your-weekly-washington-updates","status":"publish","type":"post","link":"https:\/\/familyenterpriseusa.com\/taxes\/your-weekly-washington-updates\/","title":{"rendered":"Your Weekly Washington Updates"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.16″ custom_padding=”4px|||||” 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_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/polling-and-research\/contact-your-representatives-in-congress-to-join-the-congressional-family-business-caucus-now\/” button_text=”Empower Change: Demand Action from Your Representatives in Congress Against Damaging Policies and Excessive Regulation!” button_alignment=”center” disabled_on=”off|off|off” admin_label=”Call to Action Button Top” _builder_version=”4.22.1″ _module_preset=”default” custom_button=”on” global_module=”7025″ saved_tabs=”all” global_colors_info=”{}”][\/et_pb_button][et_pb_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”1″ _builder_version=”4.23.1″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

Congress Averts a Shutdown; Keeps Government Open Beyond the New Year:<\/span> On Nov. 15, Congress held off a government shutdown by passing a \u201claddered\u201d continuing resolution (CR) with strong bipartisan support\u2014the House passed the measure in a 336-95 vote and the Senate passed it in an 87-11 vote. Speaker Mike Johnson (R-LA) and GOP leadership\u2019s \u201claddered\u201d Continuing Resolution (CR) creates different funding deadlines for the 12 fiscal year (FY) 2024 bills. The measure provides a Jan. 19 deadline for four bills (Agriculture-FDA, Energy and Water, Military Construction-VA, and Transportation-HUD) and a Feb. 2 deadline for eight bills (Commerce-Justice-Science, Defense, Financial Services-General Government, Homeland Security, Interior-Environment, Labor-HHS-Education, Legislative Branch, and State and Foreign Operations). While the staggered deadlines result in a more complicated schedule, the stopgap funding measure does not include poison-pill policy riders or additional spending cuts\u2014a concession for conservatives. The measure also does not include any of the proposed supplemental funding request dollars for Israel, Ukraine or Taiwan. The short-term CR will set up yet another spending clash in January.<\/p>\n

[\/et_pb_text][et_pb_divider color=”#397389″ divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||14px|||” custom_padding=”10px||2px|||” global_colors_info=”{}”][\/et_pb_divider][et_pb_cta title=”Read More on Policy Updates, Health Care, Tax, Immigration, Energy, Environment and Natural Resources, Transportation, Defense, Education and Labor, and Cybersecurity and Data Privacy. ” button_url=”https:\/\/comms.bhfs.com\/rv\/ff00b9f78ae5496a2713e7dda644812a305c605c” url_new_window=”on” button_text=”Click Here!” _builder_version=”4.23.1″ _module_preset=”default” background_color=”#397389″ custom_button=”on” button_text_color=”#FFFFFF” hover_enabled=”0″ global_colors_info=”{}” button_bg_color=”#ff0015″ button_bg_enable_color=”on” sticky_enabled=”0″][\/et_pb_cta][et_pb_divider color=”#397389″ divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||14px|||” custom_padding=”10px||2px|||” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”2″ _builder_version=”4.23.1″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

CMS Releases Final Rule on Skilled Nursing Facilities Ownership and Transparency Requirements:<\/span> On Wednesday, Nov. 15, the Centers for Medicare and Medicaid Services (CMS) released a\u00a0final rule<\/a>\u00a0that would require the disclosure of certain ownership, managerial and other information regarding Medicare skilled nursing facilities (SNFs) and Medicaid nursing facilities. Nursing homes must provide more detailed information about their ownership structure and report if they are owned or managed by a private equity firm or real estate investment trust. The final rule also defines both ownership structures. It also increases current data collection requirements and requires facilities to report whether other entities lease or sublease property to nursing homes. The additional data will be made public to increase transparency and allow outside researchers to more closely examine how ownership types correlate with care outcomes.<\/span><\/p>\n

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Year-End Tax Bill Remains a Possibility: <\/span>House Speaker Mike Johnson (R-LA) has expressed interest in passing a year-end tax deal; however, this hinges on whether Democrats and Republicans can agree to an extension and expansion of the child tax credit (CTC) and, possibly, affordable housing provisions to balance the extension of several business-related provisions, with a focus on the research and development (R&D) amortization deduction, bonus depreciation and the net business interest deduction:<\/span><\/p>\n

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Biden Administration to Appeal Court Order Ending DACA: <\/span>On Nov. 9, the White House submitted an\u00a0appeal<\/a>\u00a0of a district court ruling that found that the Department of Homeland Security (DHS) had acted outside of its authority in implementing the DACA program for undocumented immigrants. The case at hand was originally brought by Texas in 2018, challenging the DACA program on the grounds that it implemented new policy without congressional approval. The court ultimately sided with Texas, a decision that the administration had appealed to the Fifth Circuit. The Fifth Circuit also agreed with Texas; however, in the interim, the government had implemented some technical changes to the DACA program, consideration of which the Fifth Circuit remanded back to the lower district court. The latest decision rules against those changes, upholding the initial logic that the federal DACA program is unlawful. The decision also means that a court order banning the approval of any new DACA requests stands, although the court has allowed the government to process DACA renewal applications.<\/span><\/p>\n

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\"\"<\/p>\n

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 multi generational businesses<\/a> and protecting a lifetime of savings<\/a> has never been greater. Now more than ever, multi generational businesses<\/a> and family businesses<\/a> are under fire. That’s why Family Enterprise USA<\/a> is passionately working to increase the awareness of issues important to generationally-owned family 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 #taxseason #federaltaxpolicy #taxation #EstateTax #Deathtax #wealthtax #taxLegislation #CongressionalCaucus #CapitalGainsTax #incometaxrates #incometaxseason #taxrefund #taxreturn #incometaxreturn #gifttax #Generationskippingtax #InheritanceTax #repealestatetax #FamilyBusiness #promotefamilybusinesses #familyowned #supportlocalbusiness #womeninbusiness #AdvocatingForFamilyBusinesses #Generationallyowned #Multigenerationalbusiness\u00a0 @FamilyEnterpriseUSA @PolicyAndTaxationGroup @DitchTheEstateTax #FamilyEnterpriseUSA #PolicyAndTaxationGroup #DitchTheEstateTax<\/p>\n

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Congress Averts a Shutdown; Keeps Government Open Beyond the New Year: On Nov. 15, Congress held off a government shutdown by passing a \u201claddered\u201d continuing resolution (CR) with strong bipartisan support\u2014the House passed the measure in a 336-95 vote and the Senate passed it in an 87-11 vote. Speaker Mike Johnson (R-LA) and GOP leadership\u2019s […]<\/p>\n","protected":false},"author":2,"featured_media":9627,"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":[48,92,78,76,36],"tags":[],"class_list":["post-9621","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-multi-generational-business","category-in-the-news","category-income-taxes","category-taxes"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/9621","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=9621"}],"version-history":[{"count":4,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/9621\/revisions"}],"predecessor-version":[{"id":9628,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/9621\/revisions\/9628"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/9627"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}