U.S. Chamber Calls for Permanent Repeal of the Death Tax
WASHINGTON, D.C. – The United States Chamber of Commerce today called on Congress to permanently repeal the death tax and announced support for bills introduced in both Chambers to do just that.
"Small-business owners need certainty when they make decisions about the future of their business," said Bruce Josten, Chamber executive vice president. "These decisions should be made with the best interest of the business in mind, not to avoid a repugnant tax or the prospect that once it's phased out, it could come back. Therefore, we urge Congress to act quickly to permanently repeal the death tax."
Josten was referring to the fact that the death tax repeal, which is being phased in through 2010, is set to expire in 2011. The Chamber has long pushed for a full and permanent repeal of the death tax, noting that it would preserve the livelihood of many small business owners, protect the jobs of their workers and serve the interests of local communities.
At a press conference at the U.S. Capitol today, the Chamber was represented by small-business owner, Kevin Linehan, of Linehan Enterprises LLC.
"Small businesses account for 75 percent of the new jobs in this country," said Linehan, a member of the Chamber's Small Business Council. "Congress must work together to ensure the country's tax laws don't interfere with our ability to grow and leave our businesses for future generations or to create jobs for future workers."
The Chamber applauded efforts by Reps. Kenny Hulshof, R-Mo., and Bud Cramer, D-Ala., who hosted the press conference and introduced the Death Tax Repeal Permanency Act. The Chamber also thanked Sens. Jon Kyl, R-Ariz., and Bill Nelson, D-Fla., for taking the lead in introducing the companion bill in the Senate.
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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