Lower the Deficit - Kill the Death Tax!

I encourage you to cosponsor and vote in favor of the Death Tax Repeal Permanency Act.  The estate tax levies a heavy burden on family businesses.  Currently 70% of family businesses do not survive to the second generation and 90% do not survive to the third generation.  Family Businesses and Farms are particularly by this tax because they are “asset rich” but “cash poor”; when the burdensome tax is applied to their assets they are often forced to sell part or all of the business to pay the tax.

The estate tax puts the backbone of the economy at a disadvantage to larger, publicly traded corporations that do not face these problems at every generation, without raising very much revenue for the federal government.  In 2009 the federal estate tax collected $20.4 billion or only .76% of all federal revenues.  Douglas Holtz-Eakin in a study for the American Family Business Foundation found that permanent repeal of the estate tax could produce 1.5 million new jobs.  This increase in workers could increase federal revenues by $362 billion.

Representative Kevin Brady and Senator John Thune have been strong leaders in the fight to repeal the estate tax this year by offering popular, bi-partisan legislation to bury the death tax. This legislation already has over 200 cosponsors in the House and 36 cosponsors in the Senate.  I am asking that if you have not already to please cosponsor H.R. 1259 or S. 2242 and to vote in favor of estate tax repeal in Congress.

Show your support to constituents like me by cosponsoring the Death Tax Repeal Permanency Act today!

Thank you for your time and consideration.