Washington, D.C. – June 20, 2024 – Former U.S. Senator John Breaux (D-LA), senior advisor for Saving America’s Family Enterprises (SAFE), issued the following statement in response to the United States Supreme Court’s ruling in Moore v. United States:
“We respect the Court’s narrow ruling, which shows that serious questions remain about the workability of new taxes on unrealized gains. It is clear that Congress and the administration should move away from short-sighted guess taxes on money that has not even been received by the taxpayer and focus on closing the tax gap. The IRS estimates that stronger enforcement of the current tax code can generate more than $850 billion in revenue. This is the most equitable and responsible approach to ensuring the wealthy pay what they owe without risking adverse effects on our economy.”
In September, SAFE filed an amicus brief with the Supreme Court in Moore v. United States seeking to protect Americans and family-owned businesses from being taxed on their unrealized income. SAFE’s amicus brief was co-signed by Senator Breaux and prepared by former Obama administration acting solicitor general Neal Katyal of Hogan Lovells.
You can read the full amicus brief here.
About SAFE
Saving America’s Family Enterprises (SAFE) is a bipartisan research and education organization focused on comprehensive tax reforms that raise revenue, increase fairness, promote greater efficiency, and encourage companies to do more business in the United States.
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