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Newsline for July 14, 2000

Senate Votes to Eliminate Death Tax


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(ELLISON) THE AMERICAN FARM BUREAU FEDERATION PROVIDES FARM AND FOOD RELATED NEWS WRAPS FOR RADIO STATIONS AND NETWORKS.

I'M BOB ELLISON. OUR REPORT RUNS 1:04.

HERE IS A SUGGESTED LEAD: THE SENATE VOTES TO ELIMINATE THE DEATH TAX. BOB ELLISON HAS MORE.

ACTUALITIES COME FROM ARKANSAS SENATOR TIM HUTCHINSON.

THERE ARE TWO EXTRA ACTUALITIES FOLLOWING THE STORY. IN THE FIRST EXTRA ACTUALITY, HUTCHINSON SAYS ESTATE TAXES CAN DESTROY YEARS OF EFFORT. IN THE SECOND EXTRA ACTUALITY, HUTCHINSON RELATES THE EXPERIENCE OF ONE OF HIS STAFFERS WHO WAS FACED WITH THE DEATH TAX WHEN RELATIVES PASSED AWAY.

STAND BY, THE STORY COMES FIRST IN 3...2...1...

(ELLISON) THE SENATE PASSED THE HOUSE BILL THAT PHASES OUT THE ESTATE, OR DEATH, TAX IN TEN YEARS. ARKANSAS REPUBLICAN SENATOR TIM HUTCHINSON SUPPORTED THE BILL SAYING FARMERS ALREADY FACE CHALLENGES FROM MARKETS AND WEATHER.

(HUTCHINSON)YET STILL OUR FARMERS SEE THEIR LAND WHITTLED AWAY, GENERATION AFTER GENERATION, AND NOT JUST BY FLOODS OR STORMS OR INFESTATION, BUT BY THE FEDERAL GOVERNMENT AND ITS TAX POLICIES.

(ELLISON) HUTCHINSON QUOTED FROM THE HOUSE TESTIMONY OF AN ARIZONA RANCHER WHO TALKED ABOUT THE UNFAIRNESS OF THE REDUNDANT TAXATION IMPOSED BY THE DEATH TAX.

(HUTCHINSON)WE PAID TAXES ON EVERYTHING WE'VE EARNED AND WE DON'T UNDERSTAND WHY WE HAVE TO PAY AGAIN WHEN WE DIE. WE CAN'T COMPREHEND WHY THE GOVERNMENT WANTS TO PENALIZE US FOR BEING SUCCESSFUL BY TAKING OUR RANCH AT DEATH.

(ELLISON) HUTCHINSON SAID SUCCESS SHOULD NOT BE PENALIZED AND REBUTTED ARGUMENTS THAT THE DEATH TAX COULD BE KEPT IN PLACE WITH SOME ADJUSTMENTS.

(HUTCHINSON)BUT YOU'RE STILL SAYING, IF YOU MAKE TOO MUCH WE'RE GOING TO PENALIZE YOU BECAUSE WE'RE GOING TO TAX YOU AT FIFTY FIVE PERCENT, WE'RE GOING TO TAKE HALF OF EVERYTHING YOU'VE EARNED AND WORKED A LIFETIME TO MAKE AND THAT'S WRONG.

(ELLISON) THE BILL NOW GOES TO PRESIDENT CLINTON, WHO IS THREATENING A VETO.

BOB ELLISON, WASHINGTON.

STAND BY FOR THE FIRST EXTRA ACTUALITY. THE CUT RUNS SIX SECONDS, IN 3...2...1...

(HUTCHINSON)THE AMERICAN DREAM CAN BECOME AND AMERICAN NIGHTMARE BECAUSE OF THE DEATH TAX.

(ELLISON) STAND BY FOR THE SECOND EXTRA ACTUALITY. THE CUT RUNS SIXTEEN SECONDS, IN 3...2...1...

(HUTCHINSON)IN ADDITION TO THE INTENSE EMOTION AND GRIEVING THAT THIS FAMILY IS CURRENTLY GOING THROUGH, THEY ARE NOW FACED WITH SELLING FAMILY FARMLAND AND OTHER ASSETS IN ORDER TO PAY ESTATE AND INHERITANCE TAXES IN AN ATTEMPT TO SAVE THE FAMILY HOME AND THE FAMILY BUSINESS.

(ELLISON) THE FARM BUREAU RADIO NEWSLINE IS UPDATED EVERY MONDAY, WEDNESDAY AND FRIDAY AT 5 P.M. EASTERN TIME. THANK YOU FOR LISTENING.


This page was last modified Tue Jul 18, 2000 at 03:32 am

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