Bipartisan Support Sees 35 Members Sign on to Growing CFBC

Bipartisan Support Sees 35 Members Sign on to Growing Congressional Family Business Caucus

House Legislators Voice Support for Family Businesses, America’s Largest Private Employer; Caucus Educates Capitol Hill Leaders on Key Issues Facing Family Business

 In bipartisan support, the House of Representatives has voted strongly in favor of America’s largest private employer, family businesses, as 35 members of Congress sign onto the new Congressional Family Business Caucus.

The bipartisan Congressional Family Business Caucus, with a mission to educate legislators on the importance and strength of America’s family businesses, has seen its House supporter ranks growing to 35 in less than one year.

The Congressional Family Business Caucus, formed late last year, has held three meetings to date in the U.S. Capitol. Its next meeting is slated for March 12, 2024. The four co-chairs of the bipartisan Caucus are Jodey Arrington (R-TX), Rep. Brad Schneider (D-IL), Rep. Claudia Tenney (R-NY), and Rep. Henry Cuellar (D-TX). The caucus was officially announced in December, 2022.

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, and contributes $7.7 trillion in GDP annually to the economy, according to research.

The caucus’ mission is to raise awareness on the importance of family businesses to the economy and to address critical issues facing family businesses, from unfair taxation to workplace development to penalizing regulations.

“We’re glad to see so many of our Congressional leaders coming together so fast in a bipartisan way to support family businesses, both large and small,” said Pat Soldano, President, Family Enterprise USA and the Policy and Taxation Group, both bipartisan advocates for family business. “Family businesses now have a voice in Congress, and we see this voice growing stronger in 2024, as we look to reach fifty or more representatives signing on to this important caucus,” she said. “Family business is big business, and family businesses have unique challenges corporations do not face, particularly when it comes to taxation.”

The new members are signing up from across the country, from Georgia to Maine, West Virginia to Minnesota, and from New York to Nebraska. In addition, many of those House members signing on understand the challenges of family businesses, as many come from multi-generational family enterprises themselves.

For the current full list of Congressional Family Business Caucus members and family business research support click here.

Policy and Taxation Group is the Voice for Family Offices and Successful Individuals in Washington, DC focused exclusively on the critical tax and economic policies that impact them.

Since 1995, Policy and Taxation Group has been the leading advocacy group working to reduce and eliminate estate tax, gift tax, and generation skipping transfer tax while blocking increased income tax and capital gains taxes, the creation of a wealth tax, and other hostile tax policies that punish hardworking taxpayers and success.

#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