Capital Gains Task Force 2021-09-07T10:16:11-04:00
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Now is the time to stand together.

Congress is coalescing behind legislation to increase taxes, in particular doubling the taxes on long-term capital gains. Changing the treatment of capital gains would be particularly painful to the funds that invest in America’s smaller businesses.

These tax changes are being pushed through rapidly under the pretext that they only impact Wall Street and a handful of uberwealthy individuals, but the truth is that small business investors and growing small businesses will suffer a direct hit and be disproportionately affected by these tax increases.

The threat is real, and it is now. Investors have two options: Engage policymakers or live with expensive, enterprise-threatening consequences.

To join the Task Force, please contact

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About the Task Force.

The Capital Gains Task Force is a group of lower middle market private equity firms working to mitigate tax increases on small business investment, to help educate policymakers about the real-life impact felt by the small business owner and to support tax policy that encourages small business capital access,  growth and job creation. 

Our mission.

Through education, the Task Force will show policymakers how constituents benefit from the positive impact of private, long-term investment in local businesses and communities, and demonstrate that raising capital gains taxes on small business investment would hinder job creation and be detrimental to expanding economic opportunity for all Americans. By sharing private capital success stories through op-eds and other public channels, the Task Force will help to ensure small business investing is not overlooked or misrepresented as policymakers write new tax law.

Who we are.

Led by industry co-chairs Andrew Panzo of NewSpring Capital and Doug England of The Riverside Company, the task force is powered by an experienced and accomplished communications, legal and policy team with a track record of success in Washington.

Meet the Team >

Get a Seat at the Table or Stay on the Menu.

The current public narrative is that tax increases on long term capital gains will only impact Wall Street and uberwealthy individuals.  The Task Force will be an information source to tell the real capital access and jobs story and debunk the false narrative, with the ultimate goal of changing public perception. 

Be part of the solution.

Join the Task Force and stay in the loop. Share your stories in local and regional news outlets. Task Force members are included in daily and weekly communications, strategy meetings and updates. For more information or to join the Task Force, please contact

Be engaged.

The Task Force is telling Congress about the positive impact made by lower middle market investors and the small businesses in which they invest. Lend your voice to the effort.

Help tell the private capital story >

Meet the Team.

Andrew Panzo, Co-Chair

General Partner, NewSpring Mezzanine

Andrew has over 30 years of experience in investment banking, venture capital, and operational management. Prior to joining NewSpring in 2003 and co-founding NewSpring Mezzanine, he led a number of small businesses as Chairman and CEO, including a logistics company, an internet incubator, a promotion management services company and a merchant bank.

Doug England, Co-Chair

Senior Director, The Riverside Company

As Senior Director of Finance at The Riverside Company, Doug and his exceptional team manage all aspects of finance/fund administration for Riverside’s domestic and international equity, debt and hybrid fund products. Prior to joining Riverside in 2009, Doug spent almost a decade in the domestic and international private equity group at Bank of America, where he was responsible for all aspects of finance/fund administration.

Brett Palmer

President, SBIA

Brett brings decades of public policy experience to bear for the Task Force, including in the Executive branch as a Presidential appointee in the Commerce Department as Assistant Secretary for Legislative Affairs and as Deputy Assistant Secretary for Trade Legislation. He has served in a number of roles in Congress, including as a policy aide to the Speaker of the House.

Tonnie Wybensinger

Government Relations, SBIA

Tonnie began her career on Capitol Hill in 2002, ultimately becoming the youngest Chief of Staff in Congress and serving three Members of Congress in this role – all with seats on the House Financial Services and/or Small Business Committees. Tonnie’s numerous lobbying victories have been recognized by The Hill newspaper’s annual “Top Ten Lobbying Victories,” and in 2020 she was named one of Washington’s “Top Lobbyists” for her role in helping small businesses get the support they needed at the height of the COVID- 19 pandemic.

David Parkhurst

General Counsel, SBIA

David has served as general counsel for four major trade associations, including SBIA and the National Governor’s Association. He successfully argued state interests as counsel for NGA’s three-governor legal affairs committee in amicus briefs to federal and state appellate courts and the U.S. Supreme Court, and he has testified before the U.S. House Ways & Means Committee about the potential effects on state and local governments from federal tax reform.

MaryBrown Sandys

Communications, SBIA

MaryBrown began her career in Congress in 1994 as the youngest Press Secretary on Capitol Hill. She led communications for senior politicians in the House and Senate for 5 years, before moving to the private sector to lead International Paper’s public policy communications. As Director of Public Affairs at the U.S. Department of Commerce’s International Trade Administration, she helped implement one of the Administration’s key economic initiatives, for which she was awarded the Gold Medal for Distinguished Achievement in the Federal Service.

Brian O’Shea

Government Relations, BPO Strategies

As founder and principal of BPO Strategies, Brian assists some of the nation’s leading trade associations and companies in developing policy positions and crafting advocacy campaigns to help advance their objectives, with a particular focus in the financial services sector.  Throughout his career, Brian has developed expertise in helping policymakers understand complex issues, and in making sure his clients’ interests are considered and incorporated during the legislative and regulatory process. As the lead staffer for the Capital Markets Subcommittee in the U.S. House of Representatives, which oversees the SEC as well as the federal housing finance system, Brian helped shepherd nearly 40 pieces of legislation through the Financial Services Committee, a number of which were signed into law.