ESTATE TAX PRESS CONFERENCE:

Sharron Angle to Sign Death Tax Repeal Pledge

at Las Vegas’ Brady Industries’ Facility

Nevada Jobs and Family Businesses Jeopardized

if Federal Estate Tax Raised from the Dead

LAS VEGAS, NV— The American Family Business Institute (AFBI), a Washington-based trade association representing family-owned businesses, ranches and farms, will host a July 22 press conference in Las Vegas with U.S. Senate candidate Sharron Angle and Brady Industries’ President Travis Brady on estate-tax repeal.

At the event, Ms. Angle will sign AFBI’s “Death Tax Repeal Pledge” and discuss the tax’s impact on family businesses, jobs, economic growth and tax revenues. By signing the pledge, Ms. Angle will commit to vote for repeal of the estate tax, which her opponent, Senator Harry Reid, wants reinstated at a rate of 55 percent or higher.

The federal estate tax expired for one year on December 31, 2009. If Congress doesn’t permanently repeal the tax it will automatically reappear on January 1, 2011, with all estates exceeding $1 million subject to a 55 percent tax. According to various academic and policy studies, this would threaten the future of many of Nevada’s family-owned businesses, farms and ranches, which are vital to job creation and the state and local tax base.

Because estate values include “hard” assets, including homes and land, business property, equipment and inventory, livestock, money in bank accounts, CDs, IRAs and other investments, the estate tax forces many businesses to spend needless dollars on estate tax planning that otherwise could be invested in the business. Some families are forced to liquidate the business when the owner dies just to pay the taxman, putting the jobs of their employees in jeopardy.

No one knows this better than the Brady family, who have operated Brady Industries in Las Vegas for five generations. The press conference will be hosted at their facility, and Travis Brady will share first-hand how the return of the estate tax threatens the future of their family-owned business.

AFBI President Dick Patten and Americans for Prosperity President Tim Phillips will discuss what is going on with the estate tax nationally and what Nevada business owners can do to ensure that the tax doesn’t kill their businesses.

Refreshments will be served and the event is open to the public and the media.

SPEAKERS:

Sharron Angle

Candidate, U.S. Senate

Travis Brady

President and Owner, Brady Industries

Dick Patten

President, American Family Business Institute

Tim Phillips

President, Americans for Prosperity

DETAILS:

Thursday, July 22, 2010*

10:00 AM

Brady Industries

7055 Lindell Road

Las Vegas, NV 89118

RSVP: Sarah McManamon

Sarah.McManamon@nodeathtax.org or

202-969-2444 ext. 502

*Event is open to the public and media.

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