Let Your Voice be Heard by Congress; 5 Minute Survey
Pat Soldano’s latest article, “Family businesses crave consistency and permanency in new tax legislation“, published by Family Business Magazine, explores the latest tax policy developments, including the potential extension of the 2017 Tax Cuts and Jobs Act (TCJA), and what they mean for family businesses nationwide.
Drawing on expert insights and conversations with key policymakers on Capitol Hill, Soldano highlights the pressing need for consistent, long-term tax policies that promote investment, job growth, and economic stability for America’s largest private employers.
Family Businesses Need Long-Term Tax Stability
Short-term tax wins can be undone with each new administration. Family businesses thrive when tax policies are consistent and permanent, allowing for better planning and investment.
Legislation in Motion: Proposed Tax Code Changes
Lawmakers are pushing to extend Section 199A (pass-through tax deductions) and maintain higher estate tax exemptions to prevent significant tax hikes on family businesses.
The Balancing Act: Tax Cuts vs. National Debt
While extending the 2017 Tax Cuts and Jobs Act (TCJA) benefits family businesses, it also risks adding $4 trillion to the national debt, making bipartisan support challenging.
Read on for an in-depth look at the legislative landscape, tax changes, and what’s at stake for your family business.
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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.
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