Congress and Our New Voice
We are getting very close.
As you know we have been working very hard behind the scenes with Congress to finally embrace the importance of family businesses. Our goal is to give family businesses a louder, more prominent voice on Capitol Hill. And it is happening.
In meetings with Members of Congress, with their staffers, and influencers of all stripes, we have been working to create a bipartisan, bicameral Congressional Family Business Caucus and it’s working.
Having just spent a week in our nation’s Capital and knowing how things grind on much longer than we like, I can say with some confidence that there are now Members of Congress who have stepped up to be co-chairs of the Caucus, both Democrats and Republicans in the House. There is still work to be done in the Senate, but some are taking a “wait and see” who joins stance. In the end, we will win them over. Family Businesses are just too important to ignore.
Why do we need a Congressional Family Business Caucus?
Because we have learned after many, many meetings with Members of Congress, discussions with voters, and with communication with the media, that none of them really understand what family businesses are, how they dramatically impact the US economy, let alone the social good they do for the fabric of our local communities.
We expect to help Congress hold Caucus events at which family businesses will come to The Hill to tell their family business stories, as well as learn from our research and survey work how important family businesses are to US economy. The Caucus will be a key focal point for education and awareness building on and for all topics related to family businesses. Simply, in DC, the voice of family business will be louder and better, and Congress will listen.
I will be talking more about this new Caucus and the mid-term election results with Brandon Roman, of the law firm Squire Patton Boggs, in next month’s “The Voice of Family Business on Capitol Hill,” our new podcast series.
Brandon and the team at Squire have been instrumental in pulling this Caucus together. Brandon has the inside story on the important agenda of this new voice and, as a bonus, we will analyze the winning and losing issues, candidates, and parties from the mid-terms.
Listen for it and sign up for the podcast by going to wherever you get your podcasts, or go to Spotify at https://open.spotify.com/show/73pcpIL2NfPi11WG0FZdyX?si=xIww0QSoS_OHMdOeR9qXhw
Policy and Taxation Group is the leading information, education and advocacy organization working for the reduction and ultimate elimination of estate, gift, 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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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).
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