WOLF AGAIN SUPPORTS REPEAL OF DEATH TAX'
Washington, D.C. -- Rep. Frank Wolf (R-10th) today announced he is once again cosponsoring legislation that would make permanent the repeal of the federal estate tax, also known as the death tax.
The measure, H.R. 2380, would make permanent the current relief from the estate tax that was signed into law in 2001. Without congressional action, this tax relief will expire in 2011. The bill has 128 cosponsors, and was referred to the House Ways and Means Committee. Identical legislation passed the previous Congress with bipartisan support by a margin of 272-162.
"The estate tax is particularly harmful to small- and family-owned businesses, which are the backbone of our economy," said Wolf, who voted to repeal the estate tax in 2001.
Repeal of the death tax has bipartisan support and is endorsed by organizations representing small business interests and family farms, including the National Association of Manufacturers, the Newspaper Association of America, the American Farm Bureau Federation, and Associated Builders and Contractors.