It is shameful that Americans are taxed just because they die. The time has come for us to bury the death tax for good. The Death Tax Elimination Act of 2001 phases out the death tax to its ultimate demise over ten years. Similar legislation offered by Dunn last year passed both houses of Congress by substantial bipartisan majorities, but died when it was vetoed by former President Clinton.
Many parents spend their lives working to create a legacy to pass on to their children.
Getting rid of the death tax helps to ensure their hard work will make life better for their children without sticker shock from an enormous bill from Uncle Sam. Over the years, Dunn and Tanner have assembled a broad, bipartisan coalition of supporters for their bill. At today's introduction, the measure has 222 original cosponsors, including 31 Democrats. The initiative also has the support of more than 100 groups ranging from small business owners and farmers to minority and environmental organizations. Rep. Dunn also noted a report released last year by the National Association of Women Business Owners.