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It Is Unclear How Biden Will Shield Some Corporations From Tax Hikes • MV TELEGRAPH

President Joe Biden speaks during a joint congressional session in the U.S. Capitol on April 28, 2021. ....

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Top Tillis aide heads back to K Street

Kyle Sanders is headed back to K Street to join Thorn Run Partners as a senior vice president. ....

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A look at the flurry of foreign influence bills released this week

The Preventing Adversary Influence, Disinformation and Obscured Foreign Financing Act is being spearheaded by a bipartisan quintet of senators. ....

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Build Back Better Act may reemerge this year | The Journal Record

The National Federation of Independent Business highlighted some major concerns during a webinar Wednesday. ....

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Thune, Daines, McConnell, Crapo lead Senate Republicans in urging Biden Administration to drop step-up in basis tax-hike proposal

WASHINGTON U.S. Sens. John Thune (R-S.D.), Steve Daines (R-Mont.), and Mike Crapo (R-Idaho), members of the tax-writing Senate Finance Committee, and Mitch McConnell (R-Ky.) today (July 21, 2021) led the entire Senate Republican caucus in urging President Biden to abandon his effort to impose a capital gains tax increase on family-owned businesses, farms, and ranches. Repealing this part of the tax code would have a devastating effect on multi-generation operations, which could lead to job losses, liquidation, or outright closure.
“These [proposed] changes are a significant tax increase that would hit family-owned businesses, farms, and ranches hard, particularly in rural communities,” the senators wrote. “These businesses consist largely of illiquid assets that will in many cases need to be sold or leveraged in order to pay the new tax burden. Making these changes could force business operators to sell property, lay off employees, or close their doors just to cover th ....

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