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Politics & Policy
ABC’s September Regulatory Roundup—Learn About the Latest Developments Affecting the Construction Industry
ABC Disappointed in NLRB’s Cemex Decision
NLRB Revives Controversial 2014 ‘Ambush’ Election Rule; ABC Opposes Again
Safety
Build Health and Safety Engagement Through Leadership Commitment and Metrics Tied to Leading Indicators
Is Your PPE and Mobile Equipment as Safe as You Think It Is?
President Biden Announces Heat Safety Actions, Including DOL Hazard Alert
Events/Products/Programs
Nearly 350 ABC Leaders Gather in Washington for Annual Legislative Conference
ABC Members Rank Among ENR’s Top 400 Contractors
Trades Day: Industry Outreach Opportunity With Meaning
State/Local News
Ed Capodanno Honored by Delaware State Legislature
Election Update: ABC Staff and Members Elected in 2022
California Targets Workplace Cannabis Testing
Awards
Graham Roofing Earns the AQC Credential in September
ABC's Construction Executive Magazine Wins Silver in Publishing Competition
Legislation
ABC-Supported Legislation To Overturn the Northern Long-Eared Bat’s Endangered Species Listing Heads to President Biden’s Desk
ABC Advocates for Solutions to Workforce Shortage at U.S. House Committee Roundtable
Smucker Introduces the ABC-Supported Main Street Tax Certainty Act
Regulations
ABC Submits Comments Opposing NEPA Permitting Revisions
OSHA Announces Silica-Focused Inspection Initiative in the Engineered Stone Fabrication and Installation Industries
Take the Survey: Input Needed by Oct. 2 on President Biden’s IRA Mandates
Workforce Development
Register Now for ABC’s Construction Inclusion Week Webinar Series
DOL High Road Workforce Development Program Map Snubs Nonunion Programs
LISTEN: How to Design an Effective Technology Adoption Strategy
In the waning days of the Obama administration, the Treasury Department released proposed regulations under Section 2704 that could have a profound impact on the valuation and therefore taxation of family businesses. The regulations as written would institute back-door “family attribution,” a standard that has been rejected by the courts for decades, and that would jeopardize traditional discounts for minority ownership stakes, inflating tax bases by as much as 40 percent. As the regulations were not finalized by the time President Obama left office, there is no effective date, but the rule remains pending. Last week Associated Builders and Contractors along with several other trade groups released a new study on the impact these pending Section 2704 regulations would have on family businesses and their employees.
Titled "An Economic Analysis of Proposals to Limit the Recognition of Valuation Discounts for Transfers of Interests in Large Family Businesses," the study by Dr. Robert Shapiro finds that the proposed rule would hinder the ability of these companies to grow and hire. According to the study:
The study was sponsored by Associated Builders and Contractors and several other groups, including the Real Estate Roundtable, the S-Corp Association and the Independent Community Bankers of America, with the aim of highlighting the threat the proposed regulations present to family businesses and their employees.
With the Trump Administration actively seeking ideas on how Treasury can reduce red tape and encourage investment and growth, withdrawing the Section 2704 rules should be job one. ABC and its stakeholder allies will continue to work with the administration to rescind these regulations and protect family firms.