April 4, 2001  

RAMSTAD PRAISES HOUSE VOTE TO REPEAL DEATH TAX

 

WASHINGTON – Ways and Means Committee member Jim Ramstad (R-MN) hailed today’s House passage of legislation to repeal the death tax.

"The death tax is anti-family, anti-job and anti-environment, and it deserves to die," said Ramstad.

"The death tax destroys the American dream for too many families and should be buried once and for all," said Ramstad, who pointed out that more than 70% of family businesses do not survive to the second generation, and 87% do not make it to the third because they were forced to sell the farm or business because of the death tax.

"Congress should not impose a tax that forces the sale of family businesses, throws Minnesotans out of work, makes families expend resources on burdensome estate planning, and taxes work and savings," said Ramstad.

"We owe it to Minnesota families, small businesses and farmers to repeal the unfair and unjust death tax," said Ramstad. "I hope the Senate now moves quickly to pass this important part of President Bush’s tax relief plan."

# 30 #