On Dec. 2, US Reps. Jodey Arrington (R-Texas), Tom O’Halleran (D-Ariz), Claudia Tenney (R-N.Y.) and Brad Schneider (D-Ailing.) launched the bipartisan Congressional Household Enterprise Caucus, the primary congressional caucus targeted solely on the essential points going through generationally owned household companies of all sizes and industries throughout the US.
The Congressional Household Enterprise Caucus, the 4 bipartisan congressional sponsors have introduced, will meet commonly and can join members of Congress with America’s household companies in Washington, D.C. and of their districts and residential states.
Caucus membership is open to all members of Congress searching for to study extra about generational owned household enterprise points, which have an effect on 59% of the nation’s personal workforce, or 83.3 million employees. There are 32.4 million household companies in the US representing $7.7 trillion in annual GDP.
“America’s family-owned companies are the inspiration of our economic system, accountable for greater than half of the nation’s employment and accounting for 78% of latest job creation,” mentioned Arrington in asserting the brand new caucus. “Sadly, enterprise homeowners and entrepreneurs face quite a few challenges from excessive inflation to labor shortages, to burdensome tax insurance policies and laws,” he mentioned. “I’m proud to co-lead the Congressional Household Enterprise Caucus to advertise insurance policies that can assist family-owned companies – together with our farmers, ranchers, and power producers – thrive for generations to return.”
The Congressional Household Enterprise Caucus is bipartisan and can deal with serving to household companies throughout the nation, together with small enterprises, multi-generational household companies and huge household companies.
“Household companies and farms are the lifeblood of our upstate New York economic system,” mentioned Tenney in regards to the new group. “As a longtime small enterprise proprietor of my household’s printing and manufacturing firm, I’m honored to launch and co-chair the first-ever Congressional Household Enterprise Caucus,” she mentioned. “Small companies and household farms drive our economic system—they put money into our native communities and supply good-paying jobs and alternatives for New York households. This caucus will make sure that household companies have a voice in Congress and a seat on the desk. I’m honored to co-lead this vitally essential caucus that can be targeted on driving the dialog in Washington and delivering actual coverage outcomes.”
A number of organizations, together with Household Enterprise USA and the Coverage and Taxation Group, have been working with Capitol Hill management on the formation of this new household business-focused caucus and look ahead to working with its members to lift consciousness of the problems going through household companies on Capitol Hill.