U.S. Chamber Calls For Repeal of the Death Tax

WASHINGTON, D.C. – The United States Chamber of Commerce continued its call for full repeal of the death tax, saying a handful of wealthy Americans – with the means to shelter their estate from the death tax – do not speak for the overwhelming majority of working men and women.

"Most Americans recognize the fundamental unfairness of a death tax and have answered the Chamber's call for action," said Thomas Donohue, Chamber President and CEO. "Lawmakers have heard again and again that families that have worked hard to build up a business or farm should not be forced to sell the business or its assets in order to pay a death tax."<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

The Chamber initiated a large grassroots push on repealing the death tax this year, encouraging tens of thousands of its members to write their Representatives and Senators to urge repeal. Small business members of the Chamber from every congressional district and both political parties have made full repeal of the death tax a priority and have spoken out on the need for action. Chamber federation members and non-member supporters were also contacted – effectively doubling the size of our grassroots network.

Full repeal of the death tax would mean only a small revenue loss to the federal government, according to the Chamber, but repeal would preserve the livelihood of many small business owners, protect the jobs of their workers and serve the interests of the local community. Furthermore, the tax is costly to collect and has spawned a whole industry to meet complex reporting requirements and avoid paying it.

"A couple of super-rich individuals may have the money to hire consultants to shelter their billion-dollar estates, but they cannot buy the truth: death should not be a taxable event," said Donohue. "We will put a stop to the IRS reaching beyond the grave."

The U.S. Chamber of Commerce is the world's largest business federation representing more than three million businesses and organizations of every size, sector and region.

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