Hayes votes for tax relief
Thursday, June 29th, 2006
By Chris Fitzsimon
WASHINGTON, D.C. — Congressman Robin Hayes (NC-8) voted in support of H.R. 5638, the Permanent Estate Tax Relief Act of 2006. This legislation would make the elimination of the estate tax (commonly referred as the death tax), permanent. Hayes said he especially supports making the elimination of the death tax permanent because it is unfair to farmers and small business owners.
"The death tax is one of the most unfair taxes on the books," said Hayes. "It taxes farmers and small business owners twice. First they pay the taxes and then the federal government taxes the value of their property again when they die. The death tax is unfair and I’m proud to be part of the effort to repeal it.
"For too long, farmers have had to worry about passing their farms to their children because of the death tax. This has been a tough choice because farmers usually have more assets than money, which results in their children getting hit hard by the death tax. A lot of times, this means that the children are forced to sell off important land and equipment. This tax system puts these young folks at a disadvantage, which lessens their chances of farming successfully and holding onto the family land." (more…)
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