Estate Tax

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 →

Black Farmer Fights to Kill Death Tax

By Avis Thomas Lester John Wesley Boyd, Jr., lives off the land raising cows and growing soybeans and corn on 400 acres he owns in rural Baskerville, Virginia. He works alongside his father, John Wesley Boyd, Sr., 75, who farms 117 acres nearby that he inherited from his own father. Together they’ve faced drought, fluctuating crop prices and encroaching development. Farming isn’t an easy life, Boyd, Jr. said, but it’s one that he enjoys and hopes to pass down to his own children. Unless, he said, his family is forced to sell the farm…continue reading →

What Main Street needs most from the next president

By Bruce Nevins Now that Donald Trump has cleared a crowded Republican field to likely capture the GOP nomination, and Democratic front-runner Hillary Clinton is close to clinching her own party’s, it is time to close the book on the 2016 presidential primary season and see the candidates put their money where their mouths are when it comes to the promises made to the stalwart subject of rope-line rhetoric: Main Street. So what can those of us who count ourselves among “everyday Americans” actually expect? If you’re a New Yorker, the first policy…continue reading →

Want to really help small businesses? Fix the tax code: Robert Brett

By Robert Brett Before Pennsylvanians headed to the polls for our April 26th primary, we had to navigate through a myriad of position, records, and statements to decide which candidate will take America forward. Throughout the 2016 presidential campaign, we've heard so much on why this candidate is better than that one, policy "A" will work but policy "B" is malarkey, and so on and so forth. But there is one position that every candidate and a vast majority of voters agree on: America needs to completely overhaul our tax code now. For…continue reading →

Time to Go All In for Comprehensive Tax Reform

PALMER SCHOENING   |   APRIL 28, 2016 This year, a number of tax proposals have been offered in Congress to fix specific sections of the tax code that hold back small businesses. The Senate Finance and House Ways and Means committees have worked hard to lay out a vision for tax reform that incorporates ideas from individual members and businesses through a series of working groups. Just last week, House Ways and Means Committee Chairman Rep. Kevin Brady announced that the committee will release a blueprint for tax reform in June. With so many…continue reading →

Gallup: Most Americans Side With Trump, Cruz To Ditch The Estate Tax

Ashlea Ebeling, Forbes Staff Most Americans side with Republican presidential candidates, saying they would ditch the federal estate tax, according to a new Gallup poll on reactions to the candidates’ tax proposals. When asked about the proposal to “eliminate the estate tax that is paid when a person dies,” 54% agreed, only 19% disagreed, and 26% said they didn’t know enough to have an opinion. Yet, the other proposal to get majority support in the Gallup poll was Trump’s proposal to “eliminate most federal income tax deductions and loopholes available to the very…continue reading →

New Ways & Means chairman gives Speaker Ryan a tax-reform partner

By Mark Schoeff Jr. The promotion of Rep. Kevin Brady to chairman of the House Ways and Means Committee gives new House Speaker Paul Ryan a key partner on tax-reform efforts, according to experts.Selected by his Republican colleagues earlier this month to head the panel, Mr. Brady, R-Texas, succeeds Mr. Ryan, R-Wisc., in the role. The committee has jurisdiction over tax, trade and entitlement policy.The gavel is being handed to someone who, like Mr. Ryan, has made tax-reform a legislative signature.“He has been very active in tax reform and as chairman, he'll advance…continue reading →