Robert L. Ehrlich, Jr. press release, June 9, 2000

( FOR IMMEDIATE RELEASE: June 9, 2000 1 407 York Road, Suite 304 Lutherville, Maryland 21093 /VFWS FROM Robert L. Ehrlich, Jr. Second Congressional District of Maryland 315 Cannon House Office Building Washington, D.C. 20515 CONTACT: Jill Homan 202/225-3061 House Buries Death Tax WASHINGTON, D.C. — Congressman Robert L. Ehrlich, Jr. today applauded passage of legislation to repeal the estate, gift, and generation skipping transfer tax over a ten-year phase in period. Congressman Ehrlich co-sponsored H.R. 8, The Death Tax Elimination Act, which passed the House of Representatives by a vote of 277-136. Congressman Ehrlich stated, "No grieving survivor should be forced to meet the IRS and the undertaker on the same day. Unfortunately, the IRS currently can take from relatives up to 55% of the value of a family business or farm when its owner, their loved one, passes away. “This hits a family during its worst time, and is also a form of double taxation. Small business owners and family farmers paid taxes in the course of their lifetime. At the time of death, when these folks should be able to leave their heirs a legacy, their heirs instead are left with a tax bill on the value of their property on which taxes were previously paid. “I urge the President to finally do what is right and offer families saddened by the death of a loved one a break. No one can bring the deceased back to life, but we can ensure the intended legacy is left with his or her heirs, and not with the IRS. In terms of simple fairness, it is past time we bury the Federal death tax.” According to the National Federation of Independent Business, more than 70% of small businesses do not survive the second generation and 87% do not make it to the third generation. Sixty percent of small-business owners report that they would create new jobs over the coming year if estate taxes were eliminated. ### :c