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Bills

Congressional Legislation Details

Title as Introduced:

Death Tax Repeal

Bill Number:

H.R.1259

Description:

To amend the Internal Revenue Code of 1986 to repeal the estate and generation-skipping transfer taxes, and for other purposes.

Bill Sponsor

Co-Sponsors:

Our Position:

We support this bill.

Dear Congressman Brady,

On behalf of 1.7 million Americans for Prosperity activists in all 50 states, I write to commend you and your colleagues for introducing a much-needed proposal to permanently eliminate taxation on death: the Death Tax Repeal Permanency Act of 2011, H.R. 1259. Your bill would completely and permanently eliminate the death and generation-skipping taxes, while keeping the gift tax at a reduced top rate of 35 percent and a higher lifetime exemption of $5 million.

Americans find the death tax to be one of most unfair taxes in our system, and most favor its complete elimination. This is especially true when such burdens fall on family-owned farms and businesses. When one generation wishes to pass family business assets down to the next generation the death tax can threaten the continued viability of the business’ operations. As one family business owner commented in testimony before a Senate committee in 2007, “no entity of consequence can survive when 50 percent of its assets are confiscated.”

Click here to read AFP's full letter of support.

Status:

Referred to the House Committee on Ways and Means.

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