100+ state legislators sign letter to Congress
NASHVILLE, TN – (December 7, 2017) More than 100 state legislators, representing millions of citizens from across the country, signed a letter to Congress asking them to eliminate the ‘death tax.’ Also known as the estate or inheritance tax, the death tax is a double or triple tax in many cases.
“Family businesses get torn apart just to pay their death tax bill,” said Jonathan Williams, Chief Economist and VP, Center for State Fiscal Reform. “Our state legislators recognize that it’s a morally unfair tax; it’s an un-American tax.” The ‘death tax’ hits hardest in rural areas and is responsible for foreclosing many family farms. “This is not a controversial issue,” says Williams. “Democrats, Republicans, Independents, Libertarians and vegetarians can all say this is a horrible tax and it needs to go away.”
As Congress looks to bring fairness back to the federal tax code, it can look to the states for guidance. “I would hope in the reconciliation that they would both agree to eliminate this tax,” New Hampshire State Representative Ken Weyler. “It destroys a lot of family businesses that a person would like to leave to family. You sell the business to pay the tax. It doesn’t make sense. It’s unfair.”
