House Adjourns, Senate Makes Final Attempt on Small Business Bill, Estate Tax Questions Remain, Policy and Taxation Group

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Investment Solicitations Policy

Since we receive numerous requests every day to consider investing for our clients, we have developed a submission policy that is outlined below.

Send a brief write up of the investment opportunity with any significant material to our office for review with an indication on the envelope that it is an investment solicitation. If upon review we determine that we would like to meet to discuss or get further information, we will contact you by email or phone. Do not send blind emails or call, as it is impossible for us to respond to all requests. If you are going to be in our area and you would like an opportunity to meet us in person, please send an email with a “REQUEST TO MEET” in the subject line and we will respond if we are interested and available to meet.

Listen to what the public is saying about estate taxes.

House Adjourns; Senate Makes Final Attempt on Small Business Bill

On July 30 the House failed to reach the 2/3 vote required to pass the third small business bill (HR 5982) that included the harmful provision limiting the use of grantor-retained annuity trusts (GRATs). The vote was 241-154. The House then adjourned for the August recess and is scheduled to return on September 14.

The Senate will remain in session the week of August 2 and is expected to continue work on its small business bill (HR 5297) pending the outcome of negotiations between party leaders on permitted amendments. Senators Blanche Lincoln (D-AR) and Jon Kyl (R-AZ) continue to press for a vote on their motion to phase in a 35% rate and $5 million exemption indexed for inflation, reinstate stepped-up basis and provide for an executor “election” approach to retroactivity.

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