[Congressional Record Volume 143, Number 82 (Thursday, June 12, 1997)]
[House]
[Pages H3724-H3725]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                          REPEAL THE DEATH TAX

  (Mr. RILEY asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. RILEY. Mr. Speaker, in America today there is a growing sentiment 
to repeal the Federal estate tax, commonly known as the death tax. 
After a lifetime of hard work, many family farmers and small business 
persons know the death tax will destroy a large portion of their life's 
work.
  The death tax in many ways, Mr. Speaker, is like a disease; and like 
a disease, treatment is expensive, complicated, and not well 
understood. In order to prepare for death taxes, a business person must 
call in a variety of financial specials. The average family business 
will spend $20,000 on attorneys, $12,000 on accountants, and $11,000 on 
other financial advisors just to prepare for death taxes.
  Mr. Speaker, that is over $40,000 which could have been used to 
create jobs, buy new equipment, pay higher wages, or increase benefits 
for employees. All of these items would help grow the economy and 
improve our quality

[[Page H3725]]

of life. Mr. Speaker, I encourage the House to repeal the death tax 
now.

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