Deprecated: Optional parameter $content declared before required parameter $render_slug is implicitly treated as a required parameter in /home/patsoldano/public_html/wp-content/plugins/gravitydivi-forms-customizer-module/includes/modules/GravityDivi/GravityDivi.php on line 296
Taxation & Representation: GOP Shifts Stance: Will Corporate Tax Rates Rise? What It Means for You. - Pat Soldano
Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

Deprecated: strtolower(): Passing null to parameter #1 ($string) of type string is deprecated in /home/patsoldano/public_html/wp-content/plugins/autoblog/autoblogincludes/addons/originallinkinpopup.php on line 68

CBO Report Finds Steep Cost of Extending TCJA Tax Provisions: On May 8, the Congressional Budget Office (CBO) released a report at the request of Senate Finance Committee Chairman Ron Wyden (D-OR) and Budget Committee Chairman Sheldon Whitehouse (D-RI) titled “Budgetary Outcomes Under Alternative Assumptions About Spending and Revenues .” The report found that extending the individual tax provisions of the Tax Cuts and Jobs Act (TCJA, Pub. L. 115-97 ) would increase the federal deficit by an estimated $3.8 trillion over the next 10 years, which includes an estimated $467 billion in interest payments. Furthermore, the CBO found that also extending the TCJA’s business tax provisions and gift and estate exemptions would increase the overall cost to $4.6 trillion.

Some House Republicans Purportedly Open to Raising Corporate Tax Rate: At a business industry event on May 8, House Ways and Means Committee Chairman Jason Smith (R-MO) noted that some prominent Republicans have signaled an openness to raising the corporate tax rate, suggesting a potential area for bipartisan consensus in the broader conversation on tax policy in 2025. Republican interest in raising the corporate tax rate may stem from the federal debt and budget projections as well as a political reaction to social policies advanced by some large corporations. Were consensus to solidify on a corporate rate increase, it would likely serve as a key revenue raiser to advance expiring provisions of the Tax Cuts and Jobs Act (TCJA).

Treasury Department, IRS Issue Regulations on Foreign Trust Reporting Rules: On May 7, the Treasury Department and Internal Revenue Service (IRS) issued proposed regulations  on information reporting on foreign trust and gift transactions and foreign trust loans. The proposed regulations loosen requirements imposed by earlier guidance on this issue, and provide that a taxpayer may be exempt from filing Forms 3520 or 3520-A for tax-favored foreign retirement accounts if they meet a value threshold of $600,000 or an increased annual contribution limit of $75,000. The proposed regulations are open for public comment through July 8, and a hearing is scheduled for Aug. 21.

On May 7, the Tax Foundation released a paper titled “Options for Navigating the 2025 Tax Cuts and Jobs Act Expirations ,” in which it argues for the extension of Tax Cuts and Jobs Act policies that promote the most economic growth through two proposals. The first would retain full immediate expensing of machinery and equipment investments, among other cost recovery measures, while letting the 20% Section 199A passthrough deduction expire and eliminating all itemized deductions. The second proposal adds measures to lower income tax rates and reintroduces a fully refundable child tax credit.

About Brownstein Hyatt Farber Schreck
Brownstein Hyatt Farber Schreck is a unique law firm. Walk into any of our offices and you’ll immediately recognize a different type of energy. Complacency doesn’t have a place here. Flexibility and inspiration do. Our culture and enthusiasm allow our attorneys, policy consultants and legal staff to stay ahead of our clients’ needs and provide them with the resources they require to meet their business objectives.

We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…

As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a member.

The need for fact-based reporting of issues important to multi generational businesses and protecting a lifetime of savings has never been greater. Now more than ever, multi generational businesses and family businesses are under fire. That’s why Family Enterprise USA is passionately working to increase the awareness of issues important to generationally-owned family businesses built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates , possible elimination of valuation discounts, increase in capital gains tax , enactment of a wealth tax , and the continued burden of the gift tax , estate tax and generation skipping tax .


Family Enterprise USA promotes generationally owned family business creation, growth, viability, and sustainability by advocating for family businesses and their lifetime of savings with Congress in Washington DC.  Since 2007, Family Enterprise USA has represented and celebrated all sizes, professions and industries of family-owned enterprises and multi-generational employers. It is a bi-partisan 501.c3 organization. Family foundations can donate.


#incometax #taxseason #federaltaxpolicy #taxation #EstateTax #Deathtax #wealthtax #taxLegislation #CongressionalCaucus #CapitalGainsTax #incometaxrates #incometaxseason #taxrefund #taxreturn #incometaxreturn #gifttax #Generationskippingtax #InheritanceTax #repealestatetax #FamilyBusiness #promotefamilybusinesses #familyowned #supportlocalbusiness #womeninbusiness #AdvocatingForFamilyBusinesses #Generationallyowned #Multigenerationalbusiness  @FamilyEnterpriseUSA @PolicyAndTaxationGroup @DitchTheEstateTax #FamilyEnterpriseUSA #PolicyAndTaxationGroup #DitchTheEstateTax

The post Taxation & Representation: GOP Shifts Stance: Will Corporate Tax Rates Rise? What It Means for You. appeared first on Family Enterprise USA .

Family Enterprise USA is the organization that represents all family businesses on a national level in DC; it is not unique to any industry. Family Enterprise USA is different from other organizations because it represents and advocates for the families of family businesses and the issues, they face running their businesses every day. Our sole mission and purpose is to promote family businesses and their job growth in America. We also support the work of Family Business Centers across the country. We hope your family will choose to be a member of Family Enterprise USA.