April 14,2015

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Wyden Statement on Republican Plans to Repeal Estate Tax

WASHINGTON - Senate Finance Committee Ranking Member Ron Wyden, D-Ore., issued a statement today following calls by Republican lawmakers for a repeal of the federal estate tax:

“It’s ironic that my Republican colleagues are calling for a balanced budget and then in the same breath offering up a plan that would cost the government $269 billion in lost revenue over a decade.  This proposal puts money in the pockets of a tiny percentage of the nation’s most fortunate when it could be used to benefit all Americans, such as providing at least 8 years of funding for the National Institutes of Health,” said Wyden. 

“Repealing the estate tax would only add to the deficit and create a bigger divide between the most fortunate – those with assets in excess of about $5.4 million for individuals or $10.9 million for married couples – and the middle class.”