Latest Updates: News, Issues, Announcements, Webcasts, Whitepapers, and More
House and Senate Pass HR 1; on to President
The U.S. House again passes sweeping rewrite of the tax code with a vote of 224-201 of voting in favor and on HR1; Tax Cuts and Jobs Act. 16 Republicans voting against or not voting, and all Democrats opposing or not voting. The House voted again, after the Senate...
Approval of Conference Committee Report
On Friday, December 15, 2017, the Conference Committee for the Tax Cuts and Jobs Act released and approved its conference report reconciling the differences between the House and Senate tax reform proposals. Of particular relevance, the agreement doubles the estate...
Estate Tax Is Hurdle For Minority American Business Owners
BY HARRY ALFORD, OPINION CONTRIBUTOR - THE HILL - 12/08/17 12:00 PM EST ( THE VIEWS EXPRESSED BY CONTRIBUTORS ARE THEIR OWN AND NOT THE VIEW OF THE HILL) The estate tax creates an unfair situation for black-owned businesses, which have primarily started to accumulate...
Conference Committee Meets on Wednesday This Week
Members Contact Info Below This will be a very important week, the Conference Committee meets Wednesday 12/13. I will be in DC, meeting with those members who we think can help get the most immediate and permanent estate tax relief for families that is possible....
Full List of Conference Committee Members
Both Republicans and Democrats Senate Republicans Finance Committee Chairman Orrin Hatch (R-UT) 202 224 5251; hatch.senate.gov Senator John Cornyn (R-TX) 202 224 2934; cornyn.senate.gov Senator John...
Supporters Update on Estate Tax; Time is of the Essence!
Earlier this morning, the Senate voted 51-49 to pass its version of the Tax Cuts and Jobs Act, with Sen. Bob Corker (R-TN) being the lone Republican to vote against the bill (along with the all 48 Democrats. Though it does not include repeal of the Death Tax, it...
Tax Reform Qualitative Research Findings
Frank Luntz and Luntz Global Partners November 15, 2017 Priorities are crystallizing. As the first year of President Trump’s administration nears its end, Congress has turned its attention away from the health care, regulatory, and judicial appointment battles of the...
Soldano Is The Invisible Leader In Killing Estate Tax
Braving Backlash, Patricia Soldano Of Anaheim Hills Is The Invisible Leader In Killing Estate Tax By DAVID WHITING | [email protected] | Orange County Register PUBLISHED: November 10, 2017 at 4:44 pm UPDATED: November 13, 2017 at 4:02 pm Patricia Soldano is...
WATCH: The Estate Tax: The Politics of It All
House Ways and Means Committee Markup of H.R. 1
Fourth and Final Report: House Ways and Means Committee Markup of H.R. 1, Tax Cuts and Jobs Act As we await the release of the Senate's "conceptual draft," we wanted to report on progress in the House. Following a four day markup, the Ways and Means Committee...
UPDATE: Senate Markup Bill
House Ways and Means Committee Votes to Phase Out the Death Tax by 2024; Senate Finance Committee Proposes to Double the Exclusion Yesterday, the House Ways and Means Committee voted along party lines to pass their tax reform bill which repeals the Death Tax in 2024...
Revenue Analysis of Options to Reform the Federal Estate, Gift and Generation Skipping Transfer Taxes
Quantria Strategies; Final report September 2017 Revenue Analysis of Options to Reform the Federal Estate, Gift and Generation Skipping Transfer Taxes Executive Summary Our federal transfer tax system has three related components: the estate tax, a gift tax and a...
House to Release Tax Bill Text
House Said to Release Tax Bill Text Next Week By Laura Davison The House Ways and Means Committee is scheduled to release a tax bill the week of Oct. 30, according to two tax lobbyists who spoke with House GOP aides. The bill is slated to be marked up by the committee...
We’re Pleased That The President’s Tax Reform Framework Includes Repeal Of The Death Tax!
Earlier today, the White House, House Ways and Means Committee, and Senate Finance Committee released their highly-anticipated "unified framework" for tax reform, which calls for elimination of the death tax and its principal components. While the framework is lacking...
Summary of PATG Supporters Meeting
By Brandon Roman of Squire Patton Boggs Law Firm Last week, the Policy and Taxation Group held its annual Supporters Dinner and Meeting, during which we had the opportunity to hear from Members of Congress, congressional staff l, and industry experts about tax reform...
Revenue Analysis Of Options To Reform The Estate Tax
Revenue Analysis Of Options To Reform The Estate Tax, Gift tax And Generation Skipping Transfer Tax Our federal transfer tax system has three related components: The estate tax, a gift tax and a generation-skipping transfer tax. For much of its history, wealth...
Estate Tax Will Be Impossible To Pay Off Forcing Sale
In 2005, Elizabeth Marshall Maybee inherited a 3000-acre Northern California ranch from her grandmother that had been in the family since the 1880s. However, “the Marshall Ranch, which survived the Great Depression and survived a case of eminent domain for the...
Estate Tax Causes In-ability To Contribute Clean Water, Clean Air, And Wildlife Habitat
Tom Crowder’s grandfather had a passion for the outdoors and sustainability. This was reflected in the 6,000 acres of pines, bottomland hardwoods, and wildlife occupying his forest in south central Arkansas. However, counter-intuitively, his grandfather took such good...
Death Tax Forced Lay Off Of Seasonal Workers
Seventh-generation cattleman Bob McKnight has faced the death tax on multiple occasions, with effects that have been exacerbated by dramatic wildfires and drought. For many farm owners, this has meant the liquidation of cattle herds or entire operations. For Mr....
Selling Everything To Pay Estate Tax
The Page Family began farming in the 1880s, when Jeff Page’s great-grandfather purchased 50 acres of land in Napa Valley to grow orchard fruit and raise cattle, sheep, and turkeys. As a firm believer in land investment, Mr. Page’s great-grandfather expanded to other...
Sacrificing Land To Pay The Death Tax
Just outside Nashville, Brandon Whitt operates Batey Farms with his wife, Katherine, and father-in-law, who owns the property. Established in 1807 from a Revolutionary War land grant for military service, this seventh-generation family business provides over 65,000...
Investments At Risk If The Tax Exemption Is Reduced
When Tom and Leslyn Jacobs first got married, buying land was simply a dream. Indeed, they were both young foresters saddled with college loans and old vehicles. However, in 1984, their dream became a reality when they received a $40,000 loan to buy 80 acres of land....
Shutting Down Branches, Laying Off Workers, Or Liquidating Inventory
In 1973, Karen Madonia’s father purchased Illco, a Chicago-based distributor of parts and supplies for heating, ventilation, air conditioning, and refrigeration equipment. Although the company now has 97 employees in 3 different states and generates $42 million in...
Federal Transfer Taxation: A Study In Social Cost
The federal unified transfer tax on estates, gifts, and generation-skipping transfers may appear to be attacks born solely by the wealthiest Americans. This view, however, is as misleading as the notion that the sun rises in the East and sets in the west. The transfer...
Statement of Terry Neese: Distinguished fellow, National Center Of Policy Analysis Family Policy Center.
Support for the estate tax is based on three major claims. One, inheritance is are a major source of wealth and equity. Two, the tax provide significant revenue for the federal government. Three, the individuals required to pay the tax can easily afford it. These are,...
Policy Analysis: Grave Robbers, The Moral Case Against The Death Tax
The Federal gift and estate tax has come to be known as the death tax. There are several proposals to reform or repeal the tax pending before the current Congress, and at least some death tax changes are expected soon. Supporters of the tax continue to maintain,...
Let The Death Tax Rest In Peace
Despite President Obama's best efforts, the death tax remains a lightning rod in tax policy. Even the New York Times has reported that the death tax threatens Obama's ambitions. The death tax destroys roughly $847 billion in capital, the funds used to create economic...
Family Businesses In The US Economy
Our job today, Define family business, provide the best available statistics on family businesses, judge the quality of each satistics, and suggest prospects for future research. Read the full Family Businesses In The US Economy article.
Our Story – California Family Farm At High Risk
Our beloved 101 "acre California farm-my small family's one asset- has been in my family since 1942, when it was purchased by my great uncle. It has been planted In crops of many kinds, worked first by my uncle and then by my father, who earned a very modest salary as...
An Analysis Of The Descent Distance Into The Defects Of The Estate Tax On Entrepreneurship
This paper is the second in a series of Tax Foundation studies examining Federal transfer taxation. The first of these studies provided a history and overview of federal transfer taxation. This paper attempts to gauge one of the economic effects of federal transfer...