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ASA Signs Letter to Congress Urging Exclusion of Tax Proposals Limiting Use of Discounts

by Jennifer Aguilar | Nov 10, 2021

On November 9th, ASA along with 112 business groups and organizations sent a letter to Rep. Neal (D-MA) and Rep. Wyden (D-OR) urging exclusion of any tax proposals that would impact family businesses and farms, such as eliminating discounts for lack of control or marketability. Proposals such as taxing unrealized gains, halving the estate tax exemption, limits to grantor trusts, and changes to valuation discounts are not in the current framework of the Build Back Better Act. As debate on pay-fors included in the $1.75 trillion dollar spending bill continues, the inclusion of any number of these policies could come to the forefront of negotiations.

To read the letter sent to Congress, click here.