What Is Going On At Capitol Hill
Step-up in basis has come under assault recently as part of the “war on the wealthy” and not just from the folks you think. Yes President Barack Obama and his former Vice President Joe Biden both thought the step-up should be eliminated, but did you think...
Estate Tax Might Get Reinstated In Virginia
As we highlighted in our last newsletter, there was significant concern that the estate tax might get reinstated in Virginia. The recent Democratic takeover of the legislature paired with them occupying the governor's mansion led to a flurry of proposals that mimicked...
Campaign Trail – Iowa & New Hampshire
"Iowa Picks Corn, New Hampshire Picks Presidents" With the Iowa caucuses about to officially start the nominating process for the Democrats on Monday and the New Hampshire primary right on its heels, many will wonder what the results mean for determining the eventual...
State News – More Revenue to Spend in 2020
States aren't having to rely on income tax increases, with other revenue options around. States have more revenue to spend in 2020, and that’s not because they’re raising income taxes. In fact, six states—including New York, Utah and Georgia—are slashing individual...
The Campaign Trail – Michael Bloomberg
Michael Bloomberg Bloomberg is rich, aloof and imperious — is this really what Dems want for president? The curious campaign of Michael Bloomberg raises a question: Can a billionaire buy the Democratic nomination? In his late bid for the nomination that skips the...
PATG Applauds Introduction of Legislation to Halve Estate Tax Rate
FOR IMMEDIATE RELEASE CONTACT:Michael Zarrelli, [email protected] Hills, CA January 13, 2020 The Policy and Taxation Group (PATG) applauds Representative Jodey Arrington (R-TX) for introducing legislation today that would reduce the estate...
Estate Tax Rate Reduction Act of 2020
Today Representative Jodey Arrington (R-TX) introduced the Estate Tax Rate Reduction Act of 2020 (HR 5652) in the House of Representatives, the identical companion bill for the Rate Reduction Act legislation pending in the Senate (S. 176)! The legislation would tie...
Budget Deficit Update & CBO
You don’t need a crystal ball or fortune teller to understand that the federal budget system is broken and setting us up for failure. The Congressional Budget Office (CBO) estimated that the most recent 2019 budget accord, which set the table for the December spending...
The Campaign Trail – Michael Bennet
Michael Bennet Bennet has introduced his economic plan which he calls his "Real Deal" as a contrast to what he clearly sees as the pie-in-the-sky type of plans from those candidates to his left, and a way to avoid a quagmire over Medicare for All. The plan includes a...
From the President – 9-30 – Weekly Update
WEEKLY UPDATE This might sound strange, but I’ve always been fascinated by tax policy. Besides the need for general operating money, the tax code serves as a mechanism to encourage or discourage individual and corporate behavior. So it’s no surprise that two of the...
From the President – 10-7 – Weekly Update
[vc_row][vc_column][vc_column_text] I want to thank all of the Family Enterprise USA and Policy and Taxation Group members that flew into Washington, DC to participate in our combined Board Meetings and Capitol Hill visits. Having family business leaders join us on...
Pat Soldano Speaking at IvyFON – 9/17/19
Pat Soldano will be speaking at IvyFON on September 17, 2019 in Newport Beach, CA; see link for location and agenda; http://ivyfon.com/sep17forum/agenda.htmlTopic: Family Businesses; Voters Concerns; Legislative SolutionsPolicy and Taxation Group/ Family Enterprise...
From the President – 9-9 – Weekly Update
[vc_row][vc_column][vc_column_text] I want to thank all of the Family Enterprise USA andPolicy and Taxation Group members that flew into Washington, DC to participate in our combined Board Meetings and Capitol Hill visits. Having family business...
From the President – 7-26 – Weekly Update
[vc_row][vc_column][vc_column_text] The big legislative news this week is the sweeping budget deal President Donald Trump, and congressional leaders reached to increase the debt limit through 2021, thus averting a default on U.S. payments, and lifting stiff budget...
From the President – 7-12 – Weekly Update
[vc_row][vc_column][vc_column_text] It took a while, but the dueling letters" by the wealthy to either tax them more or figure out better ways to create wealth opportunities for others has just gotten another response. While it will come as no surprise as...
From the President – 6-28 – Weekly Update
[vc_row][vc_column][vc_column_text]Call it the dueling letters. On the eve of the first set of debates by the Democrat candidates for president, a group calling themselves the “Patriotic Millionaires” penned an open letter calling on the candidates to “tax them...
From the President – 7-18 – War on the Successful
[vc_row][vc_column][vc_column_text] As reported earlier in the week, Representative MikeThompson (D-CA) introduced the Taxpayer Certainty and Disaster Tax Relief Act of 5 2019', legislation that would extend a variety of expired or expiring tax provisions thru...
From the President 6/17
[vc_row][vc_column][vc_column_text] It has become abundantly clear that general public sentiment about the wealthy has been degrading over the last few years. A day hardly passes without headlines about wealth inequality, income disparities, and calls from...
The War on Capitalism – The Whole Story.
[vc_row][vc_column][vc_column_text] While I can’t say I’m pleased with what we learned, I am encouraged that there is a roadmap forward. Capitalism isn’t dead, but it is certainly damaged thanks to decades of political attack and corporate abuse. But...
The War on Capitalism – Part 1 of 3
Whether we call it the war on success, or the successful or the war on Capitalism what we're seeing is a change of perception - all due to the media machine, effective political attacks and corporate abuse. What follows is a 3 part series where we will be giving you...
Pat Soldano – Speaking at FON – Family Office Network
Pat Soldano is speaking at the FON - Family Office Network on 5/14 on; Tax Policy - What Now? Everyone who has a stake in the game, (paying taxes) should come, listen and learn from an expert on taxation, taxation legislation and specifically the estate tax.
Review of Reviews: Afterlife of the Death Tax
Throughout the years, there have been many proposed solutions to the estate tax; from increasing it to eliminating it. In this article, Professor Samuel D. Brunson advocates for the elimination of the estate tax and proposes to replace it with an inheritance tax. He...
Oprah Winfrey Attacking Taxes on the Rich
Unlike most outspoken Hollywood stars, business moguls and the incredibly wealthy Oprah Winfey has a different take on taxes, especially that of the Death Tax. Interestingly enough here, is Oprah Winfrey talking about tax reform, her specific issues with how the...
2019 – Family Business USA Survey
A MESSAGE FROM OUR FOUNDER - Pat Soldano I am contacting you to request your help in reaching business-owning families and asking them to complete the 2019 Family Enterprise USA survey. To access the short, online survey, the link...
Our Work is NOT Complete – The Estate Tax has NOT been repealed.
I'll say it again, our Work is NOT Complete – The Estate Tax has NOT been repealed. What we saw and heard in President Trump’s State of the Union, in reference to the Death Tax is the core of the challenge we face in solving this problem. Members in Congress and the...
Congressman Jason Smith (R, MO) Introduces Estate Tax Repeal Bill HR218
Supporters, On 1/8/19 Representative Jason Smith of Missouri introduced HR 218; Death Tax Repeal Act of the 116th Congress with 37 original co-sponsors including Representative Sanford Bishop (D) (GA). Please note that it does NOT repeal the gift tax, and it...
Elizabeth Warren Proposes New Wealth Tax
Emmanuel Saez and Gabriel Zucman, two left-leaning economists at the University of California, Berkeley, have been advising Elizabeth Warren on a proposal to levy a 2 percent wealth tax on Americans with assets above $50 million, as well as a 3 percent wealth tax...
Senator Thune Introduces S215; Bill to Repeal Estate and GST Taxes
Senator John Thune introduced S.215 with 28 Cosponsors; a bill that will repeal the estate and GST tax but NOT the Gift tax and will maintain step up in basis; so, the same bill language he has introduced before. While we continue to remind legislators that the gift...
Cotton, Boozman, Blunt, and Ernst Introduce Estate Tax Rate Reduction
Washington, D.C.-Senator Tom Cotton (R-Arkansas) along with Senators John Boozman (R-Arkansas), and Roy Blunt (R-Missouri) today introduced the Estate Tax Rate Reduction Act. This would reduce the estate tax to 20 percent, the same as the current capital gains tax...
Jason Smith (R-MO) Introduces Estate Tax Repeal Bill HR218
Yesterday, Representative Jason Smith of Missouri introduced HR 218; Death Tax Repeal bill of the 116th Congress with 37 original co-sponsors including Representative Sanford Bishop (D) (GA); We are pleased to have this bill introduced in order to repeal the...