NAM urges grassroots action on death tax repeal

The National Association of Manufacturers (NAM) is urging all organizations and companies to fax the appropriate Senators to encourage them to vote to repeal the death tax permanently.

In 2001 Congress passed and President Bush signed into law legislation that phases out the death tax, leading to complete repeal in 2010. Because of complicated Senate rules, the tax repeal was not permanent, and unless action is taken, the tax will be reinstated fully in 2011. The uncertainty of this situation has made it almost impossible for families, farms, and businesses to make plans for their families and their futures.

A NAM survey indicated that small- and mid-sized manufacturers spend almost $52,000 annually—or $1,000 every week—to minimize the potential impact of the estate tax on their businesses when they die. In a statement, NAM said, "The taxation of death is inherently unfair. Americans who strive to build successful businesses should not be punished by having the government take up to 55 percent of their estates when they die. They should be allowed to pass their savings and their businesses to their children."

The House approved permanent repeal bill H.R. 8 in April. The NAM signed a coalition letter to President Bush in June, asking him to push Senate Majority Leader Frist (R-TN) to schedule a floor vote in July. It appears that the vote is imminent and could come as early as next week. At least 60 votes will be needed to defeat an anticipated filibuster.

NAM asked that copies of messages be e-mailed to the organization at trc@nawd.org or faxed to 202-296-5940.