AIADA

CONTACT: Lori Weaver-Barnes, APR, Director of Public Relations
(703) 519-7800 / PR@aiada.org

AUTO DEALERS TO DESCEND ON CAPITOL HILL MAY 23 FOR DEATH TAX SUMMIT

Alexandria, Va. -- More than 600 automobile retailers from across the United States will descend on Capitol Hill on Tuesday, May 23, joining other family-owned business groups in urging Congress to eliminate estate taxes during the Death Tax Summit.

The dealers will be in town to attend the Automotive Congress, the largest grassroots lobbying event in the automotive industry, sponsored by the American International Automobile Dealers Association (AIADA).

The majority of automobile dealerships are family-owned businesses, some of which have been in the family for generations. Upon the death of the dealer principal, surviving heirs must pay death taxes of up to 55 percent of the estate's total value -- in cash -- to the federal government. To pay these unreasonably high taxes, heirs often must sell the business, break it up or liquidate their assets. "Death taxes can be a death sentence for family-owned automobile dealerships," says AIADA Chairman Barbara Vidmar, a second generation multi-franchise dealer in Pueblo, Colo. Like many auto dealers, Vidmar's ability to pass her dealership on to her children in the business is threatened by the estate tax.

To eliminate this threat, AIADA members will urge their members of Congress to support H.R. 8, the Death Tax Elimination Act, co-sponsored by Rep. Jennifer Dunn and Rep. John Tanner (D-TN). The bill would phase-out estate and gift taxes over a 10-year period, effectively ending the tax in 2010. Dunn will address attendees at the Automotive Congress at 11:00 am on May 23 at the JW Marriott Hotel in Washington.

"All family-owned dealerships stand to benefit from Rep. Dunn's legislative efforts to eliminate the burdensome death tax. It is a special honor to have her speak to our members on the day of the Death Tax Summit," said AIADA President Walter E. Huizenga.

AIADA's Vidmar will participate in a Death Tax Summit press conference in support of estate tax elimination at 12:00 noon on Tuesday, May 23 on the lawn of the U.S. Capitol.

The Republican House leadership has indicated that they will have a stand-alone vote on death tax repeal sometime this spring. AIADA leaders hope members of Congress will listen to their constituent concerns and support the Death Tax Elimination Act.

"It has been said that only with our government are you given a certificate at birth, a license upon marriage, and a bill at death. It is time for Congress to do the right thing and eliminate the estate tax," said AIADA's Vidmar.

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About AIADA
AIADA is the trade association representing America's 10,000 international nameplate automobile dealerships and their more than 360,000 employees. These retailers sell and service automobiles manufactured both in the U.S. and abroad, and have a positive economic impact both nationally and in the local communities they serve. Visit AIADA on the Internet at www.aiada.org.

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