[Congressional Record (Bound Edition), Volume 148 (2002), Part 1]
[Senate]
[Page 366]
[From the U.S. Government Publishing Office, www.gpo.gov]




                    HOPE FOR CHILDREN ACT--Continued

  Mr. BAUCUS. Mr. President, I thank Senator Smith of Oregon on the 
success of the last amendment. Without his help, I doubt the amendment 
would have been successful. We joined together and, frankly, I urge 
more of reaching across the aisle and accomplishing objectives that are 
in the best interest of the country and putting partisan politics 
aside.
  The PRESIDING OFFICER. The Senator from Arizona.
  Mr. KYL. Mr. President, I congratulate the Senator from Montana and 
suggest that never, ever has the Montana fight song been read quite 
like it was just read on the Senate floor.


                           Amendment No. 2758

  Mr. KYL. Mr. President, I ask unanimous consent to lay aside the 
pending business for the purpose of offering an amendment.
  The PRESIDING OFFICER. Without objection, it is so ordered. The clerk 
will report.
  The legislative clerk read as follows:

       The Senator from Arizona [Mr. Kyl], for himself, Mr. Gramm, 
     Mr. Ensign, Mr. Nickles, and Mr. Hutchinson, proposes an 
     amendment numbered 2758 to the language proposed to be 
     stricken by amendment No. 2698.

  Mr. KYL. Mr. President, I ask unanimous consent that the reading of 
the amendment be dispensed with.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The amendment is as follows:

    (Purpose: To remove the sunset on the repeal of the estate tax)

       At the end, add the following

     SEC.  . PERMANENT REPEAL OF ESTATE TAXES.

       Section 901 of the Economic Growth and Tax Relief 
     Reconciliation Act of 2001 is amended--
       (1) by striking ``this Act'' and all that follows through 
     ``2010.'' in subsection (a) and inserting ``this Act (other 
     than title V) shall not apply to taxable, plan, or limitation 
     years beginning after December 31, 2010.'', and
       (2) by striking ``, estates, gifts, and transfers'' in 
     subsection (b).

  Mr. KYL. Mr. President, since the sponsor of the legislation wishes 
to get on with the conclusion of business tonight, I will simply say 
this amendment, which I hope will be considered at the beginning of 
next week, calls for the permanent repeal of the death tax.
  As all of our colleagues know, we did repeal the death tax after 
phasing it down over a period of years, but the repeal only lasts for 1 
year before that legislation is sunsetted, and we go right back after 
10 years to the death tax as it currently exists.
  I do not think any of us who voted for its repeal really intended 
that effect. We want to make its repeal permanent, and this amendment 
will do that. We will have the opportunity to vote on that next week as 
part of the stimulus package. I thank the Chair.
  The PRESIDING OFFICER. The Senator from Nebraska.

                          ____________________