Permanent Repeal of the Estate Tax
CDA Supports Efforts to Permanently Repeal the Estate Tax.
- In 2001, Congress enacted legislation (PL 107-16) that made significant changes in the federal estate tax – or “death” tax – over the 2001 to 2009 period by gradually increasing the size of estates exempt from the tax and gradually reducing the tax rate applied.
- Since that time, CDA has been supportive of various efforts in Congress aimed at making the repeal of the estate tax permanent. We believe that permanent repeal of the estate tax will ensure the vitality of America’s small businesses – the backbone of our nation’s economy.
- Our tax laws should encourage rather than discourage the perpetuation of small, family-owned businesses. Under the current tax system, it would be cheaper to sell the family-owned business before death than to pass on the business to one’s heirs.
- Our members tell us that the estate tax has a negative impact on current business decisions. Critical resources are diverted away from investing in people and growth, and spent on attorneys, accountants and insurance to assist in the complicated estate planning effort.
- CDA is committed to bringing certainty and fairness back to the tax system and to America’s families. We will advocate for full repeal of the estate tax in any tax bill considered by Congress in the coming months.