[Congressional Record (Bound Edition), Volume 146 (2000), Part 2]
[House]
[Page 2498]
[From the U.S. Government Publishing Office, www.gpo.gov]



                        ADDRESSING THE DEATH TAX

  (Mr. CHABOT asked and was given permission to address the House for 1 
minute.)
  Mr. CHABOT. Mr. Speaker, with the economy strong and our government 
taking in budget surpluses, the time has come to address some nagging 
fairness issues in our Tax Code. The House has already done that twice 
this year by passing relief from the marriage tax penalty and voting to 
end the Social Security earnings limit.
  Now the time has come to address another unfair provision in our Tax 
Code, the death tax. Today, when a person dies, the Federal Government 
assesses a tax of up to 55 percent on the value of his or her estate. 
Thus, many Americans, small business owners and farmers, are unable to 
pass on their life's work to their children. This is totally unfair. 
Today, the House will be voting on the Small Business Tax Fairness Act 
which will deliver relief from the death tax. This commonsense 
legislation will make it easier for Americans to pass on a small 
business to the next generation. We should all support this bill that 
will help restore the American dream to American families. In fact, we 
ought to get rid of the unfair death tax altogether.

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