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Women’s Business Owners Group Hears Kim’s Views on Tax, Family Caucus

Prime Highlights 

  • Rep. Young Kim said the current 40% estate tax rate was too high and that she would discuss reducing it to 20% with the bill’s sponsor.  
  • Women-owned businesses employ over 12.2 million people and generate $2.7 trillion in revenue, representing nearly 40% of all US businesses, per Wells Fargo research.  

Key Facts 

  • The Women’s Business Owners Group is a coalition founded by Family Enterprise USA to address challenges facing women-owned businesses and advocate for supportive policies.  
  • The Congressional Family Business Caucus now has 47 House members signed on, co-chaired by Rep. Claudia Tenney and Rep. Lou Correa.  

Background 

The latest meeting of the Women’s Business Owners Group saw Representative Young Kim (R-CA) address attendees on a range of topics, including last year’s reconciliation tax bill, estate taxes, China’s growing dominance, artificial intelligence, and an update on the growing Congressional Family Business Caucus. 

The meeting was held at the headquarters of Global, a 1st Flagship Company, and was hosted by the company’s President, Sherri Bovino. Bovino opened proceedings by introducing Kim, then asked each of the 18 attendees to give a brief review of their businesses and key legislative concerns. 

The Group was founded by Family Enterprise USA (FEUSA) and its President, Pat Soldano, as a coalition dedicated to addressing challenges faced by women-owned businesses. According to Wells Fargo research, women-owned businesses employ more than 12.2 million people nationwide and represent nearly 40% of all US businesses, accounting for $2.7 trillion in revenue. 

Kim gave The Group an inside view of pending legislation, including the benefits of last year’s One Big Beautiful Bill Act for women-owned businesses. This was followed by a roundtable discussion on tax and economic issues. Soldano also updated members on the recent Congressional Family Business Caucus meeting held in Washington, D.C., in early June, themed around capital solutions for family-owned businesses. The bipartisan caucus now has 47 House members signed on, including Kim. 

Kim highlighted the Estate Tax Rate Reduction Act, noting the current 40% top rate was too high and stating she would raise the matter with the bill’s sponsor to push for a reduction to 20%. She also flagged growing momentum around wealth tax proposals as an issue she intends to monitor closely.