NATE Joins Family Business Coalition
For Immediate Release:
September 14, 2021
NATE Joins Family Business Coalition
Fights Death Tax and Capital Gains Tax Increases on Family-Owned Businesses
(Washington, DC) — Today, NATE: The Communications Infrastructure Contractors Association announced they joined the Family Business Coalition, a collection of more than 150 small business associations focused on protecting family businesses from tax increases. Currently, the Family Business Coalition is focused on opposing new capital gains tax due at death and proposed increases in the death tax.
In recent letter to the congressional tax writing committees, the Family Business Coalition wrote, “For many of our members, the value of their businesses is tied up in equipment, machinery, land, buildings, and other illiquid assets. When faced with a new capital gains tax at death, on top of the existing estate tax and state level transfer taxes, businesses without sufficient liquid reserves will be forced to fire workers, close branches, or shut down the businesses altogether.”
On joining the Family Business Coalition, Todd Washam, NATE Director of Government Relations and Wireless Industry Network, said, “We look forward to working with the Family Business Coalition at this critical time when Congress is considering a number of tax hikes that would directly impact NATE’s family owned and operated members. Many of NATE’s small business members will pass their companies on to the next generation in their family, and we must protect those companies and their workers who would be negatively impacted by proposed increases in the death tax.”
Palmer Schoening, Chairman of the Family Business Coalition, said, “We welcome NATE into our fight to prevent tax hikes on family businesses and look forward to working with their team to multiply our efforts on Capitol Hill. Family owned and operated businesses are the lifeblood of their communities and currently face a number of tax and regulatory threats from Congress. We will continue pushing hard in opposition to tax hikes impacting family businesses alongside NATE and their members.”
To read the family business coalition’s latest letter to Congress, visit http://www.familybusinesscoalition.org/wp-content/uploads/2021/09/FBC-letter-opposing-cap-gains-at-death-Sept-2021.pdf.
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About NATE: The Communications Infrastructure Contractors Association
NATE: The Communications Infrastructure Contractors Association is a non-profit trade association dedicated to providing a unified voice for companies in the diverse tower and communications infrastructure construction, service and maintenance industries. Today the Association boasts over 1,065 member companies located throughout the United States, Bahamas, Brazil, Canada, China, Guam, Israel, Jamaica, Puerto Rico, Saudi Arabia, Singapore, South Africa, Trinidad and the United Kingdom. For additional information on NATE, please visit natehome.com.
Contact: Todd Schlekeway
(605) 882-5865
