Barletta Hails House Passage Of Death Tax Repeal

Press Release

Congressman Lou Barletta, PA-11, today issued a statement regarding House passage of H.R. 1105, the Death Tax Repeal Act of 2015. The bill permanently repeals the estate tax and makes permanent the maximum 35 percent gift tax rate and the lifetime gift tax exemption. Rep. Barletta is a co-sponsor of this bill, which passed the House by a vote of 240-179.

Barletta's statement is as follows:

"As someone who began my career in my own family's business, I know how much work goes into making such an enterprise successful. After years of hard labor and careful planning, most people want to be able to pass on their life's work to the next generation. Unfortunately, in many cases, the Death Tax makes that impossible. The excessive rate applied often means that the assets must be broken up or sold off, just to satisfy the tax collector. That shouldn't be.

"We should no longer pretend that it is okay for the federal government to swoop in and take a huge chunk of someone's family legacy, especially since that person has been paying taxes on income at every step of the way. Death should not be a taxable event."

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