The Washington Wire - The S Corporation Association

Who You Calling Progressive?

One of the of the more entertaining aspects of today’s election news is the insistence on branding Abdul El-Sayed, the hard-left winner of yesterday’s Michigan Democratic Senate primary, a mere “progressive.” Meanwhile, his more traditionally progressive opponent, Haley Stevens, has been recast as a “moderate.” More moderate than El-Sayed, certainly, but…

With that as a conversation starter, here are some take-aways from yesterday’s remarkable primary election.

The Goal Posts Have Shifted

The most obvious take-away is how the goal posts have shifted on what counts as “mainstream” these days. The New Republic published this eye-opening piece just yesterday about how Senator John …

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admin2026-08-05T23:12:00+00:00August 5, 2026|

199A Trigger Warnings

Tax writers need to put a trigger warning on future 199A discussions, particularly for DC tax experts. It appears they are highly sensitive to the topic.

For example, in response to Ways and Means Chairman Jason Smith’s recent support for increasing the 199A deduction to 25 percent, AEI’s Kyle Pomerleau posted some thoughts that, on the surface, appear to make sense:

Pass-through businesses are already tax advantaged. Although C corporations face a 21 percent corporate tax rate, their profits are also subject to the individual income tax when distributed to shareholders. After considering various tax provisions that reduce the …

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admin2026-07-31T12:45:50+00:00July 31, 2026|

The Reasonable American, Continued

A recent Real Clear Politics-Emerson poll shows Pennsylvania residents oppose capping the wealth of individuals but appear to support raising taxes on billionaires and corporations. As RCP reports:

We began by asking Pennsylvanians whether the law should cap how much wealth any one person may hold. The answer was a “no”: 62% oppose such a maximum, compared with 21% who support it, and 17% who aren’t sure. That might make Pennsylvania look comfortable with concentrated wealth, but the rest of the survey suggests otherwise. We also find that 64% of respondents support raising taxes on billionaires, wealthy corporations, and Big …

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admin2026-07-28T20:00:27+00:00July 28, 2026|

S Corp Mod Introduced in Congress

Good news for the S corporation community! Ways and Means Member Mike Carey (R-OH) has teamed up with Senator Tim Sheehy (R-MT) to introduce the House version of the S Corporation Modernization Act of 2026 (H.R. 9840). “S Corp Mod” has a long history of simplifying the rules for Main Street businesses, making it easier for them to remain viable in an increasingly difficult business environment.

S corporations were created 70 years ago to help small and family-owned businesses better compete with public companies. At the time, Republicans and Democrats alike were alarmed that too much economic activity was being consolidated …

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admin2026-07-23T18:13:38+00:00July 23, 2026|

Wealth Taxes (Still) An Existential Threat

Even before California voters have a chance to weigh in this November, the state’s proposed billionaire tax has already helped drive billions (if not trillions) of dollars in wealth and investment elsewhere. Rather than reconsider the approach, Governor Gavin Newsom is now calling for a national wealth tax, arguing the same policy should be exported nationwide.

Meanwhile, the Washington Post reports that progressives increasingly see a genuine opening for a federal wealth tax, believing the political environment has shifted in their favor. At the state level, proposals continue to proliferate, building on Senator Elizabeth Warren’s …

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admin2026-07-22T13:25:04+00:00July 21, 2026|