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District 15, Illinois |
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| For Immediate Release
April 10, 2002 |
Contact: Matt Bisbee
Phone: (217) 403-4690 (217) 649-1754 |
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Congressman joins tax cut effort to lift 10 year sunset from 2001 law |
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| Washington DC… U.S. Rep. Tim Johnson
(IL-15), today, became a co-sponsor of House Resolution 2143, a bill in
Congress to make permanent the repeal of the estate tax. This bill
amends legislation enacted last year that eliminates the estate or “death”
tax but includes an expiration or “sunset” after ten years. H.R.
2143 removes the language from the original tax cut that allows for the
sunset.
“Family farmers and small business owners in the Fifteenth District know too well the burdens of the death tax,” said Johnson. “Legislation passed and signed last year means the owner of the family farm or family business is relieved of the tax liability owed to the federal government at the time of inheritance. H.R. 2143 is so important to the long term, because without this, the burdensome tax liability will be reinstated in 2011.” The Permanent Death Tax Repeal is a solid example of immediate and permanent tax relief that President Bush recommends for this nation, notes Johnson. The Congressman said this and other tax cut legislation could be called to the House floor as early as next week |
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