McCaul Helps Bury Death Tax

McCaul Helps Bury Death Tax
April 13, 2005

(Washington D.C.)- In a move to bolster family's abilities to pass businesses, farms and ranches on from one generation to the next, Congressman Michael McCaul (R-TX) voted to make the repeal of the death tax permanent. The measure passed 272-162.

"Death should not be a taxable event. For too long the federal government has been taxing working Americans, not once, not twice but three times on their hard earned money. When they earn it there's an income tax, when they spend it there's a sales tax even when they die the government takes a tax from the grave," stated Congressman Michael McCaul.

As passed the legislation makes sure the death tax will not return to America's Tax System in 2011 as previously expected.

"The Death Tax is morally wrong. It leads to families having to sell companies, split up farms and ranches and ultimately pay taxes on assets which have already been taxed. Permanent repeal of the Death Tax will ensure that small businesses and family farms are not subject to this unfair tax ever again," stated McCaul.

The legislation now moves to the United States Senate for consideration

http://www.house.gov/apps/list/press/tx10_mccaul/death_4_13.html