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Porter Votes for Permanent Estate Tax Relief

Date: June 22, 2006
Location: Washington, DC
Issues: Taxes


PORTER VOTES FOR PERMANENT ESTATE TAX RELIEF

Today, Third District Congressman Jon Porter joined hundreds of his colleagues in supporting H.R. 5638, the Permanent Estate Tax Relief Act of 2006. This common-sense legislation, which passed the House by a 269 - 156 vote, will make permanent tax cuts that have helped spur economic growth since 2001.

"There's a reason the House has supported a full repeal of the estate tax numerous times since 2001," said Porter. "Allowing estate tax relief to expire would put an economic burden on small businesses and families across Nevada. We need to do everything in our power to sustain our booming economy, which includes making tax cuts permanent."

The estate tax relief provided in the Economic Growth and Tax Relief Reconciliation Act of 2001 will end in 2010. Unless Congress acts, in 2011 the estate tax exemption will drop to $1 million per person and the maximum estate tax rate will increase to 55 percent.

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http://porter.house.gov/index.cfm?ContentID=663&ParentID=3&SectionID=19&SectionTree=3,19&lnk=b&ItemID=661

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