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Family-Owned Business Leaders Line Up for Strong Congressional Family Business Caucus on Sept. 23
‘Price of Prosperity,’ Wealth Taxes Are Topics, with Dr. Frank Luntz Presenting Latest Voter Research; Rep. Tenney (R-NY) and Rep. Correa (D-CA) are Caucus Co-Chairs
The Congressional Family Business Caucus is set for September 23 on Capitol Hill, with meeting’s discussions focused squarely on “The Price of Prosperity” and wealth taxes.
The Caucus, the last for the 119th Congress, is co-chaired by Rep. Lou Correa (D-CA) and Rep. Claudia Tenney (R-NY) and will feature Dr. Frank Luntz, EY’s Dianne Mehany, legislative experts from Brownstein, and a panel of family-owned business leaders sharing strategies on maintaining businesses growth, tax concerns, and solutions for passing their businesses on to the next generation.
EY’s Dianne Mehany, Private National Tax Leader at consulting firm EY, will present on “The Cumulative Tax Burden.”
Her presentation covers how income, estate, gift, and transaction taxes add up on family-owned businesses across generations, and how high-leverage planning can create opportunities.
Family Enterprise USA advocates for family-owned businesses and is the organizer of the event on Capitol Hill. The total number of House Members signed on to the Caucus now totals 49, comprised of 21 Democrats and 28 Republicans.
During the Caucus several House Members are expected to present their views on family-owned business challenges, laws impacting them, and insights on potentially damaging wealth taxes. The meeting starts at 8:30AM and ends at 12:30PM, followed by a series of meetings with House Members in their offices.
In the morning session there will be several presentations, starting with legislative updates from Capitol Hill insiders Russ Sullivan and Jared Jones, both from the legal and government affairs firm, Brownstein.
Tim Schultz, Chief Executive Officer, and Pat Soldano, President, Family Enterprise USA will lead the discussions, along with John Gugliada, Director of Engagement, Family Enterprise USA.
Well-known communications consultant and pollster, Dr. Frank Luntz, will also present his views on the political landscape and new research on what Americans will be thinking when they vote this November.
A panel discussion will follow with four family-owned business leaders. The panelists are Jeff Ahola, of Ahola Corporation, George Gleason, II, of Bank OZK, John-Paul Lake of Rain for Rent, and Casey Roscoe of Gerking Ranch.
“It’s important Members of Congress understand what a powerful economic engine family-owned businesses are for our country, and these Caucus meetings help them craft policies that keep them strong and growing,” said Family Enterprise USA’s Schultz.
Schultz and Gugliada will guide the panelists on their concerns on taxation, looming wealth taxes, capital investments, community, long-term planning, and job creation.
“The theme ‘The Price of Prosperity’ is an apt topic for this final Caucus meeting as voters weigh in on wealth taxes in coming elections,” said Soldano. “Tim Schultz, our new Chief Executive Officer, has done a great job organizing this Caucus, 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.
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.