Contact: Jeff Leieritz (202) 905-2104             
leieritz@abc.org
                                                                For Immediate Release
 

WASHINGTON, D.C., Jan. 20– Associated Builders and Contractors (ABC) Vice President of Legislative and Political Affairs Kristen Swearingen today released the following statement in support of President Trump’s Executive Order XXXXX, which withdrew a U.S. Department of Treasury proposed rule that would have resulted in sweeping changes to estate tax policies and imposed significant new tax costs on family-owned businesses.

“President Trump’s executive action to provide needed relief from the Obama administration’s proposed backdoor hike in the estate tax is especially welcome in the construction industry, where companies are overwhelmingly small, family-owned, capital-intensive businesses. ABC looks forward to working with the Trump administration and Congress on additional ways to lower the construction industry’s effective tax rate, which is currently the highest of any industry at 30.3 percent.