Latest Updates: News, Issues, Announcements, Webcasts, Whitepapers, and More
State News – Ohio & New York
States brace for massive budget gaps in coronavirus recession State governments have spent a decade stockpiling billions of dollars in reserve funds for the next economic downturn, scarred by the steep cuts they were forced to make in the midst of the last recession....
Campaign Trail – Who Runs Against Donald Trump
Former Vice President Joe Biden built on his commanding lead for the 2020 Democratic presidential nomination overwhelmingly beating Senator Bernie Sanders (I-VT) in the Arizona, Florida, and Illinois primaries. With 1,991 delegates needed to clinch the nomination,...
Coronavirus Trillion Dollar Emergency Relief Bill
Congress has approved a 2 trillion dollar emergency relief bill, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and sent it to the White House, where it is expected to be promptly signed by President Trump. The bill includes hundreds of billions of...
DeFazio Wants Double Spending on the IRS
Representative Peter DeFazio (D-OR) wants to double spending on the IRS, which he believes would help collections and service soar. His new legislation would give the IRS an extra $11.8 billion annually for the next decade on top of existing funding, which amounts to...
Senate Passed The House’s Coronavirus Relief Bill
In this unprecedented and unsettling time, we wanted to continue to be a resource to you on tax implications that might impact you and your business. In that regard, there has been tremendous activity accomplished at lightning speed for Congress. The Senate passed the...
Capital Hill Visits With Representatives Reed, Schweikert, & Walberg
One of the things that sets PATG apart from other groups is how active we are in DC. While some groups might send letters or make the occasional visit, we are constantly on Capitol Hill. You'd be hard-pressed not to find a few of us walking the halls on any given day....
State News – Massachusetts: It’s A Minimum Tax
Illinois Illinois governor floats graduated state income tax that would replace flat tax. Massachusetts IT'S A MINIMUM TAX: Massachusetts lawmakers are seeking to update the state's corporate tax structure to funnel more money toward transportation, as MassLive...
Race To The White House – Joe Biden & Bernie Sanders
Joe Biden Biden put out a housing plan on Monday that would cost $640 billion over a decade, with the centerpiece being a $15,000 tax credit for first-time home buyers. Campaign officials said the credit was meant to help increase wealth for minorities, and would be...
Campaign Trail – Donald Trump
Michael Bloomberg Bloomberg released his tax plan over the weekend, and it would introduce a number of tax increases that would likely result in the candidate himself paying higher taxes. Below, we'll go through the key parts of the new Bloomberg tax plan. The plan...
Full Death Tax Repeal Legislation
Full repeal legislation in both the House and Senate gained more support this week. In the Senate, newly appointed Georgia Senator Kelly Loeffler (R-GA) came on board S 215 to bring the total number of supporters to 36. On the House side, Representatives Mike...
Democratic Delegate Selection
Does it already seem like the nomination race for the Democrats has been going on forever? While actual contests are finally underway, it may not be over anytime soon and it seems more likely we won’t know until the Democratic Convention in late July. Typically...
We Need Your Help – Family Businesses Survey
The 2020 Family Enterprise USA Family Businesses survey is here. To access the short, online survey, CLICK HERE. Family Enterprise USA is a 501 (c)(3) organization dedicated to educating lawmakers and growing public support for family businesses across America. Each...
State News – Idaho, Kentucky, & More
Idaho: State Rep. Jason Monks is proposing to kill off property taxes with a 5-percentage point increase in the sales tax — a move that would take the statewide rate all the way up to around 11 percent. "I call it a thought grenade; we threw it out there and wanted to...
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...