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‘Congressional Family Business Update’ Story Featured in New  Issue of Trusts & Estates Magazine

 

Family Enterprise USA’s Pat Soldano Details How ‘Voices Are Breaking Through the Noise’

  

“Making the voice of family business heard” is the loud statement in a new article in Trusts & Estates Magazine.

The article, penned by Family Enterprise USA’s President, Pat Soldano, details how Congress is starting to listen to the largest private employer in the country, family businesses.

One reason, Soldano writes, is the recently formed bipartisan Congressional Family Business Caucus is growing fast with congressional supporters from both sides of the aisle. The Caucus now has 40 members in just a year, and after four meetings. The most recent meeting was held May 14. The next Caucus meeting is scheduled for September 18.

The 2500-word article details the growth and inside story of the Caucus, its four co-chairs, and the topics each caucus meeting will delve into, including workforce issues, taxation, and immigration challenges.

The four Caucus co-chairs are Jodey Arrington (R-TX), Rep. Brad Schneider (D-IL), Rep. Claudia Tenney (R-NY), and Rep. Henry Cuellar (D-TX).

“The voices of family business proponents, successful individuals and family office leaders are finally breaking through the noise in Congress,” said Soldano about the Trusts & Estates feature.  “The message is clear, listen to us!”

Research shows family businesses, of all shapes and sizes, employ nearly 60% of America’s private workforce, or 83 million jobs, and contribute $7.7 trillion to the annual gross national product.  This is all generated from the 32.4 million family businesses, and crucially generationally-owned family businesses.

Part of the importance of the Congressional Family Business Caucus, the article says, is Congressional leaders get to hear from real family business owners and their executives, both family and non-family members alike.

“The goal of the article is to give readers an inside view of how things work in Congress and why making sure that our Congressional leaders hear firsthand about the struggles and challenges family business face, and that corporations or publicly-traded companies do not,” Soldano says. “These forums are critical in telling the family business story and to convince Congress, media, and the public that family businesses are the largest, and perhaps most important part of our national economy.”

The article also points out that Family Enterprise USA support is growing substantially.

In the last quarter of 2023, members of the American Trucking Associations joined in the fight, representing over 35,000 independent, mostly family-owned trucking businesses.

In addition, the article states, they were joined by the Associated Equipment Distributors (8,000 members) and the Air Conditioning Contractors of America (14,000 members), Energy Marketers of America (8,000 members) and National Funeral Directors Association (20,000 members). These association members are now members of FEUSA and a big part of our voice on Capitol Hill.

Other large associations are supporting the Caucus, too, including the National Federation of Independent Business, the American Farm Bureau Federation (AFBF), National Restaurant Association, the National Beer Wholesalers Association and the Winegrape Growers of America.

The AFBF, the story cites, has 5.9 million member families consisting of farmers, ranchers and affiliated farm-based insurance providers. In addition, it represents 2,800 county farm bureaus. The National Restaurant Association represents more than 40,000 members owning or operating restaurants or some 500,000 related restaurant businesses.

The Trusts & Estates article can be found at https://www.wealthmanagement.com/trusts-estates-0

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