Edward M. Orlet
Vice President of Government Affairs
National Association of Electrical Distributors
The federal estate tax is a burden on family businesses. Not only does the tax threaten to close family businesses, it also takes capital away from the business to pay for expensive estate planning.
Our complex taxcode makes it harder for family businesses to survive, a simpler and fairer tax code is needed for all.
18 States currently impose an estate or inheritance tax, Indiana and North Carolina recently repealed their inheritance and estate taxes and Tennessee has set their tax on a schedule for repeal.
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.
The Family Business Coalition is leading the charge to repeal the federal estate tax and ensure that capital intensive, family-owned businesses aren’t hindered by a complicated and uncertain tax code. The coalition provides me with real time information and intelligence, unmatched by other groups focused on family business tax issues. Every Family Business Coalition meeting agenda is packed with presentations from the best and brightest tax policy experts, both on the Hill and in the private sector. Any organization concerned with small business tax issues should be a member of the Family Business Coalition.
