[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S.J. Res. 20 Introduced in Senate (IS)]

  1st Session
S. J. RES. 20

Expressing the sense of Congress that the number of years during which 
the death tax under subtitle B of the Internal Revenue Code of 1986 is 
repealed should be extended, pending the permanent repeal of the death 
                                  tax.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            October 23, 2003

Mr. Kyl introduced the following joint resolution; which was read twice 
                and referred to the Committee on Finance

_______________________________________________________________________

                            JOINT RESOLUTION


 
Expressing the sense of Congress that the number of years during which 
the death tax under subtitle B of the Internal Revenue Code of 1986 is 
repealed should be extended, pending the permanent repeal of the death 
                                  tax.

Whereas the death tax under subtitle B of the Internal Revenue Code of 1986 
        penalizes savings, results in direct and substantial harm to family 
        owned farms and businesses, and restricts job creation;
Whereas the death tax is one of the least cost-effective taxes in that it is 
        expensive to comply with, it is complex and inefficient to administer, 
        and it produces little Federal revenue;
Whereas small businesses provide a majority of new jobs in, and account for half 
        of the output of, the United States economy, and the economy cannot 
        achieve strong, sustained growth without the creation of new jobs by 
        family owned and operated businesses;
Whereas the Economic Growth and Tax Relief Reconciliation Act of 2001, which was 
        passed by Congress on a bipartisan basis, provided substantial relief 
        from the death tax beginning in 2002 and repeals the death tax for the 
        year 2010;
Whereas the Economic Growth and Tax Relief Reconciliation Act of 2001 includes a 
        ``sunset'' provision that reinstates the death tax in 2011 at the rates 
        in effect prior to the enactment of that Act;
Whereas the reinstatement of the death tax 1 year after it is repealed has 
        caused great uncertainty and confusion in efforts to manage and plan for 
        efficient generational transfers of family businesses, farms, and other 
        assets;
Whereas the permanent repeal of the death tax has been endorsed overwhelmingly 
        by over 100 business organizations, including organizations as diverse 
        as the Black Chamber of Commerce, the National Indian Business 
        Association, and Women Impacting Public Policy; and
Whereas not less than 4 times over a 2-year period, the House of Representatives 
        has voted on a bipartisan basis to make the repeal of the death tax 
        permanent: Now, therefore, be it
    Resolved by the Senate and House of Representatives of the United 
States of America in Congress assembled, That it is the sense of 
Congress that the number of years during which the death tax under 
subtitle B of the Internal Revenue Code of 1986 is repealed should be 
extended, pending the permanent repeal of the death tax.
                                 <all>