[Congressional Record Volume 149, Number 2 (Wednesday, January 8, 2003)]
[House]
[Page H64]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




             CALLING FOR PERMANENT REPEAL OF THE DEATH TAX

  (Mr. GIBBONS asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. GIBBONS. Mr. Speaker, our Nation's economy is lagging behind the 
needed economic recovery that we all seek. Just yesterday President 
Bush announced a sensible economic growth package that will grow our 
economy and create jobs for the American people. The President also 
again called upon Congress to permanently repeal the unfair death tax. 
As we all know, the 10-year sunset provision on the tax relief bill 
passed in 2001 has added a level of anxiety and uncertainty into our 
already complicated Tax Code. The current sunset has made estate 
planning as unpredictable as our own inevitable fate.
  Also, Mr. Speaker, as unemployment levels continue to rise, it is 
important to note that, according to the Heritage Foundation, just the 
repeal of the death tax will help to create an additional 145,000 jobs. 
In turn, the U.S. economy could produce $11 billion per year in extra 
output. So not only is the elimination of the death tax fair, it just 
makes common economic sense.
  Mr. Speaker, our President has again asked Congress to do the right 
thing, and I urge my colleagues to act now to permanently eliminate the 
death tax.

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