June 12,2002

Grassley on Permanent Death Tax Repeal

Sen. Chuck Grassley, ranking member of the Committee on Finance, issued the followingcomment on permanent repeal of the estate tax.

“Permanent repeal of the death tax is a moral issue. It’s wrong for our government to taxincome more than once, but that's exactly what happens with this tax.

“The question is, do senators want to strengthen small businesses and farm operations, or dothey want to confiscate family businesses built by people who lived modestly and put what theymade back into the business over a lifetime?

“Most small businesses and family farms can’t survive after they’re split up just to pay theestate tax. And long before the tax is due, farmers and small business owners are forced to spend awhole lot of time and money planning for the death tax. This is wasted energy that would be betterspent increasing productivity and growing our economy.

“It’s time to sound the death knell on the death tax with permanent repeal.”