On Dec. 2, US Reps. Jodey Arrington (R-Texas), Tom O’Halleran (D-Ariz), Claudia Tenney (R-N.Y.) and Brad Schneider (D-Ill.) launched the bipartisan Congressional Family Business Caucus, the first congressional caucus focused solely on the critical issues facing generationally owned family businesses of all sizes and industries across the United States.
The Congressional Family Business Caucus, the four bipartisan congressional sponsors have announced, will meet regularly and will connect members of Congress with America’s family businesses in Washington, D.C. and in their districts and home states.
Caucus membership is open to all members of Congress seeking to learn more about generational owned family business issues, which affect 59% of the nation’s private workforce, or 83.3 million workers. There are 32.4 million family businesses in the United States representing $7.7 trillion in annual GDP.
“America’s family-owned businesses are the foundation of our economy, responsible for more than half of the country’s employment and accounting for 78% of new job creation,” said Arrington in announcing the new caucus. “Unfortunately, business owners and entrepreneurs face numerous challenges from high inflation to labor shortages, to burdensome tax policies and regulations,” he said. “I am proud to co-lead the Congressional Family Business Caucus to promote policies that will help family-owned businesses – including our farmers, ranchers, and energy producers – thrive for generations to come.”
The Congressional Family Business Caucus is bipartisan and will focus on helping family businesses across the country, including small enterprises, multi-generational family businesses and large family businesses.
“Family businesses and farms are the lifeblood of our upstate New York economy,” said Tenney about the new group. “As a longtime small business owner of my family’s printing and manufacturing company, I am honored to launch and co-chair the first-ever Congressional Family Business Caucus,” she said. “Small businesses and family farms drive our economy—they invest in our local communities and provide good-paying jobs and opportunities for New York families. This caucus will ensure that family businesses have a voice in Congress and a seat at the table. I am honored to co-lead this vitally important caucus that will be focused on driving the conversation in Washington and delivering real policy results.”
Several organizations, including Family Enterprise USA and the Policy and Taxation Group, have been working with Capitol Hill leadership on the formation of this new family business-focused caucus and look forward to working with its members to raise awareness of the issues facing family businesses on Capitol Hill.