As I have previously discussed, if passed the president’s budget proposals could raise the U.S. estate tax to the highest in the world. This increase could put a disproportionate burden on businesses owned by minorities and woman. One worried female business owner testified last week at a House Ways and Means Committee hearing that her business will suffer from wage and employee cuts, and a forced partial sell after her father dies.
See Melanie Batley, The Hill: Estate Tax Hike to Hurt Minority, Female-Owned Firms, Newsmax, March 24, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
