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HOOLEY VOTES TO OVERRIDE PRESIDENT's VETO
OF "DEATH TAX" REPEAL

Washington, DC — The U.S. House of Representatives failed to override the President's veto of the estate tax legislation that was approved by the House and Senate earlier this summer.  Congresswoman Darlene Hooley (OR-5) voted in favor of the override, which failed to garner a two-thirds majority necessary to keep the measure alive (273 yeas; 157 neas).

"When a family faces a personal tragedy, such as the death of a parent or a loved one, they should not have to worry that our government's tax laws might compound this tragedy by leading to the loss of their family-held business," said Hooley. "It's particularly rough for family farmers and small business owners whose personal assets are tied up in the capital costs associated with their operations."

In a letter to President Clinton Hooley is circulating among House Democratic colleagues in favor of death tax relief, she asks him to "seriously consider" estate tax relief in any tax relief measures that may be considered as part of an omnibus spending package Congress and the President may deal on as Congress completes its work by the October 6th target adjournment date.

Hooley will be working over the coming weeks with like-minded colleagues in the House to push for inclusion of further estate tax relief in any tax measure that comes before the Congress in the coming month.

At a minimum, Hooley would like to see a measure that supports a complete exemption of estates that are assessed at $5 million or less, providing relief for an overwhelming majority of family-owned businesses and small farms that might have to be closed or sold in the event of the owner's passing.

"Providing our small businesses and family farms meaningful tax relief is an issue that I've worked hard to achieve -- and one that I won't let go," said Hooley.  "Families shouldn't have to visit the undertaker and the tax man in the same day."

Radio Actualities Are Instantly Available by Calling 202-226-5654; Retrieve from Box 220.

For more information please contact:
Joan Mooney
Chief of Staff/Press Secretary
Congresswoman Darlene Hooley (OR-5)
1130 Longworth House Office Building
Washington, DC 20515
Phone: 202-225-5711
Fax: 202-225-5699