An increase in income tax rate means you'll pay a higher percentage of your income to the government. This directly reduces your disposable income, the money you have left after taxes for spending or saving. This can make it harder to afford basic necessities, save for retirement, or invest in your future.
Energy Marketers of America, National Funeral Directors Assn. Join Family Enterprise USA to Advocate for Family Businesses
Industries Will Have a Stronger Voice in Congress as they Join Family Enterprise USA to Address Negative Tax Proposals, Regulations
Two large industry groups, Energy Marketers of America and the National Funeral Directors Association, have joined Family Enterprises USA to advocate on behalf of family-owned businesses in these two large industry sectors.
The announcement today provides the Energy Marketers of America (EMA) and the National Funeral Directors Association (NFDA) access to Family Enterprise USA benefits and resources, including the ability to present their issues face to face with the bipartisan Congressional Family Business Caucus here.
EMA is a federation of 48 state and regional trade associations representing about 8,000 family-owned and operated small business energy marketers throughout the United States. EMA members supply 80 percent of all finished motor and heating fuel products sold nationwide including renewable hydrocarbon biofuels, gasoline, diesel fuel, biofuels, heating fuel, jet fuel, kerosene, racing fuel and lubricating oils. In addition, energy marketers represented by EMA own and operate approximately 60,000 retail motor fuel stations nationwide, supply motor fuels to an additional 40,000 gas stations and heating fuel to more than five million homes and businesses.
The National Funeral Directors Association represents 20,000 funeral service members on Capitol Hill and with regulatory agencies located in Washington, D.C. The funeral home industry is comprised of 89 percent family-owned businesses, employing 141,002 people, and generates $16.3 billion to the US economy annually, according to the most recent research.
“We’re excited by this new partnership with Family Enterprise USA,” said Rob Underwood, President, Energy Marketers of America. “Family Enterprise USA is a strong voice on behalf of family-owned businesses, including thousands in the energy sector,” he added. “EMA members look forward to adding our own voice to theirs as we take to the halls of Congress to promote tax policy that both protects and promotes our members’ family businesses.”
Family businesses are the largest private employers in the country, accounting for 83.3 million jobs, or 59 percent of the country’s private workforce, according to research. America’s family-owned businesses contribute $7.7 trillion annually to the U.S. gross domestic product.
Our industry is nearly ninety percent made of family-owned businesses, many of which are multi-generationally-owned,” said Lesley Witter, Senior Vice President, Advocacy for the National Funeral Directors Association, Brookfield, Wis. “We too are very excited about joining FEUSA and providing our members with additional resources, tools, and information to grow and sustain their businesses.”
Witter, who is based in Washington, DC, is especially eager to be part of the Congressional Family Business Caucus meetings this year. There are three caucus meetings schedule in 2024.
“It’s important to have organizations like these be part of our growing family business voice on Capitol Hill,” said Pat Soldano, President, Family Enterprise USA. “Our goals are to educate our legislators on the size and power of family-owned companies, and to let them know of damaging tax policies, hurtful regulation, and other economic policies affecting their business,” she said. “Data shows family businesses are more trusted than most business and they keep jobs, add jobs, pay better than average wages, and give back to their communities, all of which are strong arguments to keep our family businesses thriving in all business sectors.”
We hope you've enjoyed this article. While you're here, we have a small favor to ask...
As we prepare for what promises to be a pivotal year for America, we're asking you to consider becoming a member.
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 include 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 gift tax, estate tax and generation skipping tax.
Family Enterprise USA promotes generationally owned family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington DC. Since 2007, Family Enterprise USA has represented and celebrated all sizes, professions and industries of family-owned enterprises and multi-generational employers. It is a bi-partisan 501.c3 organization. Family foundations can donate.
#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 @FamilyEnterpriseUSA @PolicyAndTaxationGroup @DitchTheEstateTax #FamilyEnterpriseUSA #PolicyAndTaxationGroup #DitchTheEstateTax