Statement of the Hon. Rosa L. DeLauro

Statement of the Hon. Rosa L. DeLauro

U.S. House Permanent Repeal of Estate Tax

WASHINGTON - Congresswoman Rosa L. DeLauro (Conn.-3) today released the following statement on the U.S. House vote to permanently repeal the estate tax. According to the Center on Budget and Policy Priorities, the total cost of repealing the estate tax for a decade would be nearly $1 trillion. DeLauro supported a more fiscally responsible amendment that would have left the estate tax structure in place, but increase the exemption to $3 million for individuals and $6 million for married couples in 2006.

"At a time when our country is facing a half-trillion dollar deficit this year alone, it is unconscionable to me that the first major tax legislation in the U.S. House this year is to give another three-quarters-of-a-trillion dollars to the families of our nation's wealthiest.

"Those who support repeal of the estate tax say it is a matter of fairness, but I ask where is the fairness in this bill for middle class Americans? They will not see a penny of tax fairness in this legislation.

"I support estate tax reform, which would include provisions to help our working families, family farms, and small businesses, not swell our debt further to reward the nation's wealthiest."

http://www.house.gov/delauro/press/2005/April/Estate_tax_04_13_05.html