Text: SR00151                           Text: SR00153
Text: SR00100 - SR00199                 Text: SR Index
Bills and Amendments: General Index     Bill History: General Index

Senate Resolution 152

Partial Bill History

Bill Text

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  1 22 estate tax had been repealed in 1996, over the next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