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Harry Reid Continues to Stand in the Way of Death Tax Reform
by Dick Patten - No CommentsPosted on July 14th, 2010 10:20 am
Yesterday, Senate Majority Leader Harry Reid demonstrated (again) why he is public enemy No. 1 in the Death Tax fight.
Not only does Senator Reid oppose repeal, he apparently opposes even a bipartisan proposal to reduce the estate tax to 35%. Senator Kyl filed a modified version of his "Lincoln-Kyl" proposal as an amendment to the small business bill. This proposal would gradually reduce the estate tax from 45% to 35% and increase the exemption from $3.5 million to $5 million.
Senator Reid killed this modest proposal before it could even come to a vote.
This is nothing new, of course. In 2009, Senator Reid took to the Senate floor to (unsuccessfully) stop his party from supporting a non-binding resolution in favor of the Lincoln-Kyl proposal. Despite Reid's lobbying, this proposal passed with ten Democrat votes.
The bad news is that it looks like Congress will not consider any further Death Tax legislation till September.
The good news is that Senator Reid remains unpopular in Nevada, and may not have a job in the Senate come January.
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Contact Congress
Have you told the 112th Congress to Repeal the Death Tax?
- ATR & AFBI: End Punitive Tax on Hardworking Hoosiers
Fri, Dec 14, 2012 - Tax Coalition Calls on Tennessee Governor Bill Haslam to Quickly Repeal Inheritance Tax
Fri, Dec 14, 2012 - AFBI: This Bill is a Matter of Survival
Thu, Dec 13, 2012
- A Score of the Death Tax Repeal Permanency Actby Stephen J. Entin, April 2011
- The Cost of Compromise: Impact of the 2011-2012 Estate Tax by Anthony Davies, December 2010
- Life Insurance Cash Cow: An Issue Brief on the Hidden Side of Estate Tax Lobbying by Tim Carney & Dick Patten, November 30, 2010
- Growth Consequences of Estate Tax Reform, by Dr. Douglas Holtz-Eakin and Cameron Smith, American Family Business Foundation, September, 2010
The Death Tax fight will soon be decided in the halls of Congress by your representatives. AFBI is leading the fight for repeal in Washington, but we cannot do it alone.