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House Members Young Kim, John McGuire, Rick Allen Join 47 Member Strong Congressional Family Business Caucus
Next Caucus Meeting Set for September 23 with Focus on Taxing Wealth, Assets, and Savings
The bipartisan Congressional Family Business Caucus saw three new House Members join its mission to support and advocate for America’s family-owned businesses.
The three new Members of Congress are Rep. Kim Young (R-CA), Rep. John McGuire (R-VA), and Rep. Rick Allen (R-GA). The total number of House Members signed on to the Caucus now totals 47, with 28 Republicans and 19 Democrats.
The Congressional Family Business Caucus is led by Co-Chairs Rep. Lou Correa (D-CA) and Rep. Claudia Tenney (R-NY).
The most recent Caucus was held June 9 in the historic old House Members’ dining room and saw in attendance Rep. Rich McCormick (R-GA), Rep. John McGuire (R-VA), Rep. Lou Correa (D-CA), and Rep. Kevin Hern (R-OK).
The meeting’s theme was “Fuel for Growth: Capital Solutions for Family Businesses” and dealt with key financial issues facing family businesses, including long-term capital strategies and access to capital for growth.
The next Caucus meeting will be held on September 23 on Capitol Hill with the focus on taxing wealth and assets, and the changing rules of success.
“We welcome our newest members, Representatives Young, McGuire, and Allen, to the bipartisan Congressional Family Business Caucus,” said Pat Soldano, President, Family Enterprise USA. “The Caucus is an important forum for our lawmakers to learn about and understand the unique challenges America’s family-owned businesses face in this challenging economy,” she said. “These Members of Congress understand what a powerful economic engine family-owned businesses are for our country, and they are helping us keep them strong and growing.”
America’s family businesses are the largest private employers in the country, accounting for 83.3 million jobs in some 32 million family businesses across the country, according to research. These businesses contribute $7.7 trillion annually to U.S. gross domestic product.
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Family Enterprise USA Action engages with legislators on Capitol Hill on behalf of family offices, hardworking families, and family-owned businesses. It is focused exclusively on the critical tax and economic policies that impact them. Since 1995, FEUSA Action has been the leading advocacy group working daily in Washington, D.C., to reduce and eliminate estate tax, gift tax, and generation skipping transfer tax while blocking increased income and capital gains taxes, the creation of a wealth tax, and other hostile policies that punish hardworking taxpayers and success in the U.S. It is a bipartisan 501.c4 organization.