Text: SR00151 Text: SR00153 Text: SR00100 - SR00199 Text: SR Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 SENATE RESOLUTION NO. 1 2 BY McKIBBEN 1 3 A Resolution requesting Iowa's congressional delegation 1 4 to work to permanently repeal the federal death tax. 1 5 WHEREAS, under federal tax relief legislation 1 6 passed in 2001, the death tax was temporarily phased 1 7 out, not permanently eliminated; and 1 8 WHEREAS, women and minorities are very often owners 1 9 of small and medium-sized businesses, and the death 1 10 tax prevents their children from reaping the rewards 1 11 of a lifetime trying to make a better life; and 1 12 WHEREAS, farmers will face losing their farms if 1 13 the federal government resumes the heavy taxation of 1 14 the estates of people who invested most of their 1 15 earnings back into their farms; and 1 16 WHEREAS, employees suffer when they lose their jobs 1 17 because many small and medium-sized businesses are 1 18 liquidated to pay death taxes and because high capital 1 19 costs depress the number of new businesses that could 1 20 offer them a job; and 1 21 WHEREAS, it has been estimated that if the federal 1 22 estate tax had been repealed in 1996, over the next 1 23 nine years the United States economy would have 1 24 averaged as much as $11 billion per year in extra 1 25 output, and an average of one hundred forty-five 1 26 thousand additional new jobs would have been created; 1 27 and 1 28 WHEREAS, the persistent uncertainty created by the 1 29 federal sunset provision prevents families and small 1 30 businesses from taking advantage of the repeal; and 2 1 WHEREAS, having passed both the United States House 2 2 of Representatives and the United States Senate, 2 3 elimination of the death tax has proven to hold wide 2 4 bipartisan support; NOW THEREFORE, 2 5 BE IT RESOLVED BY THE SENATE, That the Iowa Senate 2 6 requests Iowa's elected representatives in the United 2 7 States Congress to support, work to pass, and vote for 2 8 the permanent repeal of the death tax. 2 9 BE IT FURTHER RESOLVED, That copies of this 2 10 Resolution be sent to the members of Iowa's 2 11 congressional delegation. 2 12 LSB 7248SS 79 2 13 sc/sh/8
Text: SR00151 Text: SR00153 Text: SR00100 - SR00199 Text: SR Index Bills and Amendments: General Index Bill History: General Index
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