President’s Tax Plan Hurts Family Businesses

Date: January 21, 2015
For Immediate Release
Contact:  Eric Reller 202-314-2073 or [email protected]

Business Estate Tax Coalition Responds to President’s SOTU Tax Plan

Tax Plan Hurts Family Businesses

WASHINGTON, D.C., January 21,
Family Business Estate Tax Coalition Co-Directors made the following joint statement in
response to the President’s new tax proposal:

“The new capital gains tax regime proposed by President
Obama radically departs from the bipartisan agreement that he signed into law
in 2010 and reaffirmed in 2012.  Make no mistake – this proposal would
harm small businesses and family farms, introduce massive new complexity into
the tax code, and effectively create a second tax at death on top of the
already punitive estate tax.  Going forward, we encourage Congress to
reject this misguided proposal, and instead build on the bipartisan progress
made in recent years to permanently repeal the estate tax once and for all.”

The Family Business Estate Tax Coalition (FBETC) is a
grassroots coalition of over 50 national family-owned business organizations
dedicated to the full, permanent repeal of the estate tax.


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