Washington May
22, 2000 -- Three members of the small
business advocacy group NFIB will join a
bipartisan congressional contingent at a Capitol
Hill press conference stressing the need to
repeal the federal death tax. NFIB members
participating in the press conference
are:
Brad Eiffert, head of Boone
County Lumber Co., a Columbia, Mo., family-owned
business started in 1965 and now employing
35,
Joe Olivo, operator (along with
his mother, brother, and wife) of Perfect
Printing, a Cherry Hill, N.J., firm started in
1980 that now employs16, and
John
Kearney, owner of Bud Kearney, Inc., an
independent auto dealership in Ravena, N.Y.,
founded by his father in 1950 and now employing
19.
NFIB, the nation's leading small business
advocacy group, has led the fight to repeal the
federal death tax, which it has dubbed "the most
unfair tax of all, literally taxing families
right out of family businesses." NFIB research
shows that more than 70 percent of family
businesses do not survive the second generation,
and more than 87 percent never make it to the
third generation. One in three small business
families today have to sell their businesses
outright or liquidate business assets just to
pay estate taxes. Legislation repealing the
death tax is slated for mark-up in the Ways and
Means Committee this week.
Contact: Mary Mead
Crawford orEd Frank
202.554.9000
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