[Congressional Record Volume 151, Number 45 (Friday, April 15, 2005)]
[Extensions of Remarks]
[Page E662]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                DEATH TAX REPEAL PERMANENCY ACT OF 2005

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                               speech of

                           HON. HOWARD COBLE

                           of north carolina

                    in the house of representatives

                       Wednesday, April 13, 2005

  Mr. COBLE. Mr. Speaker, I rise today in support of H.R. 8, the Death 
Tax Repeal Permanency Act of 2005.
  I was proud to support the Economic Growth and Tax Relief 
Reconciliation Act of 2001, which included a permanent repeal of the 
Death Tax. Unfortunately, due to arcane rules of the Senate, this much-
needed relief for working Americans is scheduled to sunset at the end 
of 2010. Since then, my colleagues and I have voted three times to make 
this repeal permanent. I am hopeful that both the House and Senate will 
finally agree to permanently repeal the Death Tax and send this 
legislation to President Bush for his signature.
  Unless we pass this much needed legislation, my constituents in the 
Sixth District of North Carolina will once again be subject to the 
Death Tax in 2011. Further, the sunsetting of this tax makes it 
difficult for business owners to make strategic planning and investment 
decisions that could have a major impact on the future of their 
businesses and loved ones. Finally, I do not believe that we should 
punish American families who have worked diligently to provide for 
themselves and want to pass along their success to their children and 
grandchildren.
  It is my belief that few sections of the tax code are more unfair and 
hazardous to the economy than the Death Tax. Conceptually and in 
practice, it diminishes personal incentive to remain industrious. 
Furthermore, it encourages people to become less reliant on themselves 
and their loved ones and more reliant on a government that is on 
occasions intrusive, confiscatory, and ill-suited to help people.
  After 20 years in Congress, I still believe that smaller government 
and lower taxes are the most effective economic policies. Eliminating 
the Death Tax will continue to restore consumer confidence, spur 
capital investment, and create new jobs which are critical components 
of economic growth, particularly within the small business community.
  Mr. Speaker, I support a complete and permanent repeal of the Death 
Tax.

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