Robert L. Ehrlich, Jr. press release, August 31, 2000

MEWS FROM Robert L. Ehrlich, Jr. Second Congressional District of Maryland 1407 York Road, Suite 304 Lutherville, Maryland 21093 3 1 5 Cannon House Office Building Washington, D.C. 205 1 5 FOR IMMEDIATE RELEASE: CONTACT: Jill Homan August 3 1 , 2000 202/225-3061 Clinton-Gore Deals Blow to Maryland Families Ehrlich Vows to Work to Override Veto Of Death Tax WASHINGTON, D.C. -- Congressman Robert L. Ehrlich, Jr. expressed disappointment today over the Clinton-Gore Administration’s veto of a bipartisan bill to eliminate the death tax, but vowed his support to override the veto after Congress reconvenes next week. Congressman Ehrlich stated, "Once again, the Clinton-Gore Administration is playing election year politics with the American people. The big losers in today’s veto of death tax relief are families with farms and small businesses." "The death tax is one of the most unfair taxes on the books, because it taxes farmers, ranchers and small business owners twice. No American should be forced to pay 55 percent of the value of his or her savings, business or farm in taxes after death," Congressman Ehrlich added. "I look forward to standing up for families and voting to override this veto." Congress will vote on the override of today’s veto of the Death Tax Elimination Act (H.R. 8) after returning from the August district work period. The bill, with strong bipartisan support, passed in June. It would repeal the estate, gift and generation skipping transfer tax within 1 0 years. The plan would also simplify portions of the generation skipping transfer tax rules prior to repeal. According to the National Federation of Independent Businesses (NFIB), more than 70 percent of small businesses do not survive the second generation and 87 percent do not make it to the third generation. Sixty percent of small-business owners report they would create new jobs over the coming year if estate taxes were eliminated. C ###