DEATH TAX -- (House of Representatives - July 12, 2000)

[Page: H5850]

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   (Ms. PRYCE of Ohio asked and was given permission to address the House for 1 minute and to revise and extend her remarks.)

   Ms. PRYCE of Ohio. Mr. Speaker, the House passed a repeal of the death tax last month. We will continue to work to see that this unfair tax is repealed.

   The American dream is about the opportunity of every citizen to build a better future for themselves and their children through hard work and personal initiative. It means building your own business, pouring your own sweat into a small farm to turn a profit, saving each day so you can leave something to your family.

   Yet it is these Americans who are working so hard, playing the rules and paying taxes who, upon their death, become the victims of a tax that discounts their dedication, punishes their entrepreneurship, and denies their dying wishes.

   Mr. Speaker, as a result of this death tax, only one-third of all small businesses and family farms are passed on after the first generation. This is not right. Where is the logic?

   Why does the government have to grab someone's life savings out of their hands once they die? It is time we eliminate the death tax and reinvest in America, so the dreams and values of these folks can be carried on to future generations. We need to make sure that death tax gets buried.

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