American Trucking Associations Supports Formation of New Congressional Family Business Caucus
With Majority of Trucking Firms Family-owned Businesses, ATA Sees Caucus Focused on Concerns of America’s Truckers Vital to Keeping Industry Strong
America’s truckers are in full support of the new bi-partisan Congressional Family Caucus kicking off this month, it was announced by the American Trucking Associations today.
The Congressional Family Business Caucus, a bipartisan Congressional caucus with four sponsors, will meet regularly and will connect members of Congress with America’s family businesses on Capitol Hill, and in their districts and home states.
The new family business caucus has Representatives Jodey Arrington (R-TX), Claudia Tenney (R-NY), and Brad Schneider (D-IL) as its key sponsors. It is the first congressional caucus focused solely on the critical issues facing generationally-owned family businesses of all sizes and industries across the United States, including trucking companies, the majority of which are family owned and operated.
“We are excited about this dedicated Congressional caucus formed specifically to address the issues facing our family-owned trucking companies,” said Bill Sullivan, Executive Vice President of Advocacy, for the American Trucking Associations. “From fuel prices and over-regulation to income taxes and workforce training, we need our representatives educated on trucking company needs,” said Sullivan. “We look forward to working with them, and allied groups like Family Enterprise USA, to create new policy and change policies that are harmful.”
The Congressional Caucus membership is open to all members of Congress seeking to learn more about generational owned family business issues, which affect 59 percent of the nation’s private workforce, or 83.3 million workers. There are 32.4 million family businesses in the U.S, representing $7.7 trillion in annual GDP.
American Trucking Associations is the largest and most comprehensive federation of national trade associations for the trucking industry. ATA is the voice of the industry America depends on most to move the nation’s freight.
“America’s family-owned businesses are the foundation of our economy, responsible for more than half of the country’s employment and accounting for 78% of new job creation,” said Congressmen Arrington about the new caucus. “Unfortunately, business owners and entrepreneurs face numerous challenges from high inflation to labor shortages, to burdensome tax policies and regulations,” he said. “I am proud to co-lead the Congressional Family Business Caucus to promote policies that will help family-owned businesses – including our farmers, ranchers, and energy producers – thrive for generations to come.”
Several organizations, including Family Enterprise USA and the Policy and Taxation Group, have been working with Capitol Hill leadership on the formation of this new family business-focused caucus and look forward to working with its members, and associations like the American Trucking Associations, to raise awareness of the issues facing family businesses on Capitol Hill.
“With this new Congressional caucus, family businesses now have the focused support of our leaders in Congress,” said Pat Soldano, President, Family Enterprise USA, a supporter of the new caucus and an advocate for multi-generational family-owned businesses.
“We’ve been working for the growth of America’s family businesses for decades, but today our voice has greater power with the formation of this bipartisan Congressional caucus,” she said. “We applaud this development and look forward to working with the caucus, and ATA, to help bring the importance of family businesses front and center to the many issues facing this country.” Soldano is also President of the Policy and Taxation Group.
About American Trucking Associations
The American Trucking Associations (ATA) is a 90-year-old federation and the largest national trade organization representing the trucking industry, with affiliates in all 50 states. ATA’s membership encompasses over 34,000 motor carriers and suppliers directly and through affiliated organizations. Our association represents every sector of the industry, from Less-than-Truckload to Truckload, agriculture and livestock to auto haulers, and from the large motor carriers to the owner-operator and mom-and-pop one truck operations. In fact, 80 percent of our membership is comprised of small-sized carriers, whereas only 2 percent of our membership would be considered large-sized carriers.
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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 Policy and Taxation Group 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. Those issues include Step Up in Basis, gift tax, Valuation Discounts, Capital Gains Tax, Income Tax Rates, Wealth Tax, & Estate Tax (death tax).
Policy and Taxation Group is the leading information, education and advocacy organization working for the reduction and ultimate elimination of estate tax, gift tax, and generation skipping transfer taxes, and other taxes that punish hard work and success. Our Mission is to challenge hostile tax policies that meaningfully and measurably impact families and limit the ability of family businesses to remain family owned. We work with Congress in Washington DC against 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 the possible elimination of Step up in Basis.
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