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1 22 estate tax had been repealed in 1996, over the next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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