Chairman Brady intends to have the House address the 2018 Tax Bill 2.0 when they return from August recess; note that it will include making the estate tax life exemption doubling permanent. Click here for a brief recap of the legislation.
Many meetings last week in DC to seek sponsors on rate reduction legislation with some success. Thanks to Jamie Richardson, Congressman Davidson (R) (OH) will introduce the Estate Tax Rate Reduction bill in the House with the possibility of a Democrat co-sponsor; also, after the August recess; Click here for a copy of the bill. Senate Sponsor is still being sought with some good possibilities.
Discussed estate tax rate reduction legislation in a meeting with Cathy Hughes and Tom West at Treasury and Cathy suggested that a rate reduction might result in less abusive planning. She also indicated that if families are seeking private letter rulings on subjects that could be included in the Priority Guidance Plan they would be open to include them.
- FEUSA Family Business Survey was completed and distributed with 205 family business respondents; many copies distributed to Hill members last week; Link to full survey, highlights on page 3.
- Social Media program in progress and on schedule, to be implemented in late September. PATG Supporters will be included in any distributions.
- PATG Supporters and FEUSA Members dinner on 9/26 and meeting on 9/27 in Washington DC. Frank Luntz and Congressman Davidson confirmed to speak, and Chairman Brady invited along with other members of Congress. Details to follow.
Estate Tax Update August 2018