FBC reiterates call to withdraw proposed Section 2704 regulations

Today FBC sent a letter to Secretary Mnuchin reiterating our request for the Treasury Department to withdraw the proposed Section 2704 estate and gift tax regulations along with our coalition letter signed by 119 organizations. We are continuing to push for withdrawal of the proposed regs to provide certainty for family businesses. The letter is available below and here:continue reading →

133 Organizations Sign Coalition Letter Supporting Death Tax Repeal Act

Washington, DC: Today the Family Business Coalition sent a letter to Senator John Thune (R-SD) and Congresswoman Kristi Noem (R-SD) supporting their introduction of the Death Tax Repeal Act of 2017. 133 trade associations and advocacy organizations representing a wide range of America’s family businesses joined the letter in support the legislation. The coalition letter states in part, “The negative effects of the estate tax make permanent repeal the only solution for family businesses and farms. Your legislation will help America’s family businesses create jobs, expand operations, and grow the economy.” Palmer Schoening,…continue reading →

New Polling Shows Support for Wind Tax Credits

Washington, D.C. (Dec. 19, 2016)— The Family Business Coalition (FBC) released a poll of registered voters in Oklahoma that shows widespread support for the state’s wind industry and the wind tax credit that supports it. The poll shows not only Oklahomans want more state investment in wind power, but that they believe eliminating the state wind tax credit is a poor solution for fixing the state budget. A poll of 373 Oklahoma registered voters conducted at the end of November revealed important findings about the public’s opinion toward wind power in the state:…continue reading →

Interest Groups See Path to Estate Tax Repeal With Trump

By Allyson Versprille Republican Donald Trump’s election signals good things for people who want to kill the federal estate tax. In the weeks leading up to the election, lobbyists for and against repealing the tax—Trump’s plan calls for repeal—expected that the estate tax wouldn’t change much in the first few years of the next presidency. Many anticipated a divided government that would keep the issue at a standstill. But with Trump’s win and Republicans maintaining control of both House and Senate, groups in favor of repealing what they refer to as the “death…continue reading →

Will Trump Victory Yield Estate Tax Repeal?

By Ashlea Ebeling Estate tax foes have been waiting for a Republican president to make repeal happen, and now they have their chance with President-elect Donald Trump. “It will still be a heavy lift but not insurmountable as it has been with [President Barack] Obama in office,” says Palmer Schoening, head of the Family Business Coalition. “Trump made repealing the death tax a key tenet of his tax reform proposal, and we look forward to working with him to see it through.” Trump’s tax plan calls for repealing the estate tax, and imposing…continue reading →

Family Business Coalition submits comments to Treasury Department opposing proposed expansion of the estate tax

(Washington, D.C.) — Today, the Family Business Coalition submitted comments opposing changes to Section 2704 of the Internal Revenue Code. The Treasury Department released proposed changes to Section 2704 in August that would dramatically change the way family-owned businesses are valued and would increase the tax liability of family businesses across the country. So far over over 9,000 organizations, businesses, and individuals have submitted comments opposing the Treasury’s proposal. More information on the proposed expansion of the estate tax can be found at www.noestatetaxhike.org. The proposed regulations have come under heavy assault from…continue reading →

The death tax is the unfairest tax of all

It’s in the news again because Hillary Clinton wants to raise it By Stephen Moore and Palmer Schoening It was in 1916 — 100 years ago this year — that America made a big, big mistake that has done significant damage to our economy and the fairness of our tax system for an entire century. We are talking about the estate tax, more popularly known as the death tax. The tax is in the news again because Hillary Clinton wants to raise the tax at death from 40 percent to 45 percent and…continue reading →

Attacking Trump estate tax plan attacks family businesses

By Karen Madonia A recent article titled “Trump family would get $7B windfall from estate-tax plan: analyst” highlighted a report by an analyst attacking Mr. Trump for including repeal of the death tax in his tax plan. While the analyst appealed to the hearts of readers, he never looked at his analysis through the lens of reality. The analyst’s exact attack against the Trump family also attacks my family and thousands of others who own small and medium sized businesses. He believes the next generation of a family business and its employees should…continue reading →

Comprehensive tax reform can bring parties together

By Annette Sweeney It seems that the country is more politically divided than ever. We have two presidential candidates that have high disapproval ratings and campaign events where chaos has become the norm. Even in these divided times, a majority of Americans can support certain policies, namely the need for comprehensive tax reform. This is a necessary policy change that is long overdue and is something our presidential candidates should endorse to begin to bring the country back together. I proudly represented the people of Iowa in the state Legislature for four years and I…continue reading →
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