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504 Cannon House Office
Building · Washington, DC 20515 For Immediate
Release Congressman Pitts
votes to override Death Tax repeal veto Washington—Rep. Joe Pitts (R, PA-16)
voted today to override President Clinton’s veto of Estate Tax
repeal legislation. The
Estate Tax, better known as the “Death Tax” because it is levied at
the time of a person’s death, would have been repealed by
legislation passed by the House of Representatives in June. The tax can take up to 60
percent of a person’s estate and disproportionately effects farmers
and small business owners.
The veto override, which would have required a two-thirds
vote to pass, failed by a vote of 274 to 157. “This is a sad day for farmers and small
business owners,” said Congressman Pitts. “Congress did the right
thing and the President did the wrong thing. It’s that simple—and with
his veto, his way wins. “We’ll try again
next year, when we have a new President who—we hope—will take the
side of farmers and small business owners. “The President’s
claim that we can’t afford to cut taxes for farmers and small
business owners is misleading.
The Death Tax Repeal, the Social Security Earnings Limit
Repeal, and the Marriage Tax Penalty Repeal, along with eight other
tax cuts passed by this Congress add up to only 11.6 percent of the
projected surplus. We
have reserved more than enough money to pay down the debt and shore
up Social Security and Medicare. # # # |
