Friends of Manufacturing

Treasury's Proposal Threatens The Future of Family Business (Member Focus)

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The Treasury Department recently blindsided many small manufacturers with a proposal that could derail plans by many business owners to pass their companies down to future generations. The proposed regulations - which incorporate some of the most sweeping changes to estate tax policies in the past 25 years - could increase estate and gift taxes on family-owned businesses by an estimated 30 percent or more. 

In early 2013, President Barack Obama signed into law legislation that permanently lowers the burden of the estate tax, helping many manufacturers transfer their family-owned businesses to the next generation and preserving jobs and investments in communities across the country. Unfortunately, less than four years later, the administration has done an about-face and proposed new rules that eliminate many of the benefits of the lower estate tax rates and higher exemptions, threatening the future of family-owned businesses. 

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