Congress Must Permanently End Death Tax

CONGRESS MUST PERMANENTLY END DEATH TAX -- (House of Representatives - June 14, 2004)

(Mr. WILSON of South Carolina asked and was given permission to address the House for 1 minute and to revise and extend his remarks.)

Mr. WILSON of South Carolina. Mr. Speaker, thanks to President Bush's historic tax relief, our economy is surging and 1.4 million jobs have been created since August. However, if we do not act, one of the hardest and most unjust penalties on Americans, the death tax, will return in full force in 2011.

The death tax essentially is a double tax that forces families to pay taxes on estates that are passed on from generation to generation. According to Citizens For a Sound Economy, nearly 70 percent of small businesses do not make it past the first generation because of this tax. Additionally, American Farm Bureau President Bob Stallman has pointed out that many of our Nation's farmers must sell parts or all of their land to simply pay taxes. This is also catastrophic for family-owned auto dealerships, funeral homes, and beverage distributors.

The American people know it is fundamentally wrong to be taxed twice and know the importance of passing something of value on to their own children. I urge Congress to act quickly and kill the death tax once and for all.

In conclusion, may God bless our troops, and we will never forget September 11.