As “taxmageddon” approaches with the scheduled expiration of the Bush
tax cuts in January, a coalition of non-profit groups and conservative
Republican lawmakers is pushing for permanent repeal of the estate tax,
and putting politicians of both parties on the record as to whether they
support full repeal.
Republican leadership has seemed hesitant to focus on any particular aspect of the tax-cut extension battle, favoring a simple extension of the tax cuts, which would hold the estate tax rate at its current 35 percent. If the tax cuts are allowed to expire in January, the rate would skyrocket to 55 percent — putting the United States’ rate among the highest in the world economy.
In a July 17 letter to Speaker of the House John Boehner obtained by The Daily Caller, the Family Business Coalition — which includes The 60 Plus Association, Americans for Tax Reform, Americans for Prosperity, The Club for Growth, the National Taxpayers Union, the American Conservative Union and others, including a number of industry groups — voiced support for the Death Tax Repeal Permanency Act, which currently has 217 cosponsors, including Democrats and 19 members of the 22 Republicans on the Ways and Means Committee. The act, sponsored by Republican Rep. Kevin Brady, was introduced in late March 2011 and will likely have 218 co-sponsors by the end of this week.
The letter singled the the estate tax out as “especially pernicious” among those set to increase in January, saying, “Passing a full repeal bill will firmly align conservative grassroots activists and members of Congress around a 0 percent death tax — one of many important priorities in any comprehensive tax reform plan.”
“Moreover,” the letter reads, “a national surge towards repealing the death tax is being seen across the country in many state legislatures.”
“With nearly half the chamber already signed on to the bill,” it continues, “it would be a shame to fail to hold a vote on this important issue during this Congress.”
“In addition to the vote to extend current tax policy this month — which we fully support – our coalition of industry groups, the freshman class, and a large contingent of Republican Study Committee members are requesting that House leadership call a vote on Congressman Brady’s bill to fully repeal the death tax this fall,” Schoening Strategies President and Family Business Coalition Chairman Palmer Schoening told TheDC.
Republican leadership has seemed hesitant to focus on any particular aspect of the tax-cut extension battle, favoring a simple extension of the tax cuts, which would hold the estate tax rate at its current 35 percent. If the tax cuts are allowed to expire in January, the rate would skyrocket to 55 percent — putting the United States’ rate among the highest in the world economy.
In a July 17 letter to Speaker of the House John Boehner obtained by The Daily Caller, the Family Business Coalition — which includes The 60 Plus Association, Americans for Tax Reform, Americans for Prosperity, The Club for Growth, the National Taxpayers Union, the American Conservative Union and others, including a number of industry groups — voiced support for the Death Tax Repeal Permanency Act, which currently has 217 cosponsors, including Democrats and 19 members of the 22 Republicans on the Ways and Means Committee. The act, sponsored by Republican Rep. Kevin Brady, was introduced in late March 2011 and will likely have 218 co-sponsors by the end of this week.
The letter singled the the estate tax out as “especially pernicious” among those set to increase in January, saying, “Passing a full repeal bill will firmly align conservative grassroots activists and members of Congress around a 0 percent death tax — one of many important priorities in any comprehensive tax reform plan.”
“Moreover,” the letter reads, “a national surge towards repealing the death tax is being seen across the country in many state legislatures.”
“With nearly half the chamber already signed on to the bill,” it continues, “it would be a shame to fail to hold a vote on this important issue during this Congress.”
“In addition to the vote to extend current tax policy this month — which we fully support – our coalition of industry groups, the freshman class, and a large contingent of Republican Study Committee members are requesting that House leadership call a vote on Congressman Brady’s bill to fully repeal the death tax this fall,” Schoening Strategies President and Family Business Coalition Chairman Palmer Schoening told TheDC.
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