WASHINGTON – Citing overwhelming public support and
economic reality, U.S. Congressman John Boehner (R-OH) voted to repeal
the onerous death tax today. This tax, which can be as high as 55
percent, forces thousands of farmers and small business owners to sell
land, buildings and equipment to pay the government.
"Individuals, family partnerships or family
corporations own 99 percent of U.S. farms," said Boehner. "Death taxes
threaten the continuation of these family-owned operations. I voted to
end the Death Tax and override the President’s veto not only to keep
farmland in production, but because most of this income has been taxed
many times over, before death."
Boehner also referenced statistics that question the
economic viability of the death tax. According to William W. Beach of
the Heritage Foundation, death taxes are the most expensive taxes to pay
and collect. Death taxes raise just slightly more than 1 percent of
total federal revenues, but total compliance costs amount to about 65
cents for every dollar collected. This additional cost means that the
$27.8 billion collected in federal death taxes last year actually cost
taxpayers $36.4 billion.
"It is time to put Federal Death Taxes in the grave.
The President’s veto of this sensible phase out of the death tax is
unjustified and unreasonable," said Boehner. "I look forward to working
with the next administration to kill this arduous tax once and for
all."
Boehner represents Ohio’s 8th Congressional District
and is serving his fifth term in Congress.
