MSCI, Partners Oppose Treasury Regulations That Will Raise Taxes On Family-Owned Businesses
As the Metals Service Center Institute’s partners at the U.S. Chamber of Commerce explained in a blog post last week, U.S. Treasury Department regulations issued this past August constitute “one of the most sweeping changes to estate tax regulations in the last 25 years.”
The new rules, which would change how minority valuation discounts work in the context of closely-held, family-owned businesses, would result in higher taxes on family-owned small businesses and also would impose additional planning and legal costs on these businesses. MSCI joins the U.S. Chamber in calling on the Treasury Department to immediately withdraw these harmful proposed regulations.
Lawmakers on Capitol Hill are also working to stop the Treasury rules. Rep. Warren Davidson (R-OH) has introduced legislation in the U.S. House that would block the U.S. Treasury Department from finalizing the regulation while Sen. Marco Rubio (R-FL) has offered identical legislation in the Senate.
MSCI encourages its members to file comments with the U.S. Treasury Department in opposition to these rules. Comments are due by Wednesday, Nov. 2 and can be filed at this website.