Newsline / Standards & Legislation

HARDI Member Speaks at Estate Tax Rally

Newly-introduced Legislation Would Repeal Estate Tax

COLUMBUS, Ohio — Karen Madonia, chief financial officer of Illco Inc., Aurora Ill., recently spoke at a Capitol Hill press conference to announce the introduction of legislation to repeal the estate tax.

Madonia, co-chair of Heating, Air-conditioning, and Refrigeration Distributors International’s (HARDI) government and trade relations committee, approved of the legislation introduced by Sen. John Thune, R-S.D., and Rep. Kevin Brady, R-Texas, which would fully repeal the estate tax.

During her visit to Washington, Madonia described the many pitfalls that this tax brings to small and family owned businesses, stating that the tax, if implemented as is, could force the affected families to sell portions of their businesses to pay the tax.

“That would mean shutting down branches, laying off workers, or liquidating inventory just to be able to pay a tax bill that only occurred because an owner died,” Madonia said. “Even worse, the company might have to be sold outright.”

Talbot Gee, executive vice president and COO, HARDI, said the estate tax continues to place an undue burden on HVACR businesses.

“A significant portion of our members are family businesses, and they generate an estimated 80 percent of the dollar value of HVACR products sold through distribution,” he said. “Repealing the estate tax to help preserve these businesses remains a top priority for our organization, and we are grateful that HARDI has such an able spokesperson on this issue, like Karen Madonia.”

Publication date: 7/29/2013 

Want more HVAC industry news and information? Join The NEWS on Facebook, Twitter, and LinkedIn today!

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.



Image Galleries

2015 AHR Expo

Photos from the 2015 AHR Expo at McCormick Place in Chicago.

Posted: February 19, 2015


NEWSMakers: Andy Patron
Andy Patron, partner with FMI Corp., discusses the impact a national labor shortage may have on the mechanical contracting industry. Posted on March 27.
More Podcasts


NEWS 03-30-15 cover

2015 March 30

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

HVAC Trends

The NEWS regularly reports on HVAC industry trends in our weekly issues. What trends do you see?
View Results Poll Archive


2015 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research


Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


Magazine image
Register today for complete access to Get full access to the latest features, Extra Edition, and more.


facebook icontwitter iconyoutube iconLinkedIn i con