70 SBIA Members Sign Letter to Congress Opposing Proposed Capital Gains Tax Increases
June 18, 2021
Members form industry-led Capital Gains Task Force to promote policies that support private, long-term investment in local businesses and communities
WASHINGTON, D.C. (June 18, 2021) – The Small Business Investor Alliance (SBIA), the association for private equity funds investing in American small businesses, today sent a letter to leadership on the House Ways and Means Committee and the Senate Finance Committee urging Congress to work “to encourage long-term investment in small businesses” and expressing concern about the direction of current tax policy proposals. The letter is signed by 70 members of the Small Business Investor Alliance working to tell Congress about the real-life impact to the small business owner of capital gains tax increases and to support tax policy that encourages small business capital access, growth and job creation.
SBIA members grow businesses. They support families. They create retirement security. They help provide scholarships and access to education. Their actions directly impact people and communities. It is their contributions to small and medium-sized businesses across this country that create jobs and help drive America’s economy. Raising capital gains taxes on small business investment would hinder job creation and be detrimental to expanding economic opportunity for all Americans.
SBIA members have formed a task force dedicated to sharing this story. The goal of the Capital Gains Task Force, led by industry co-chairs Andrew Panzo of NewSpring Capital and Doug England of The Riverside Company, is to show policymakers the positive impact and need for private, long-term investment in local businesses and communities. SBIA appreciates this opportunity to provide the perspective of our membership and to engage with members of Congress in the ongoing debate over the U.S. tax system. We must all work together to implement policies that encourage long-term investment in small businesses as our economy continues to recover from the shock caused by the pandemic.
###
About the Small Business Investor Alliance (SBIA)
The Small Business Investor Alliance (SBIA) is the premier organization of lower middle market private equity funds and investors. SBIA works on behalf of its members as a tireless advocate for policies that promote competitive markets and robust domestic investment for growing small businesses. SBIA has been playing a pivotal role in promoting the growth and vitality of the private equity industry for over 60 years. For more information, visit www.SBIA.org or call (202) 628-5055.