Taxation Update: March 2000

106th Congress Reconvenes-Where is the Ship Headed

In mid-January when the members of the U.S House of Representatives and the U.S. Senate returned to Washington to begin the second session of the 106th Congress, their discussions focused on the legislative priorities they would pursue during this session of Congress. For some, last year's veto of the $792 billion GOP tax cut plan indicated that a change of strategy from a broad bill to a piecemeal approach to tax relief was necessary.

The House Republican leadership decided to focus on a targeted approach to tax cuts. House Ways and Means Chairman Archer announced that he was eager to begin the new year by focusing on tax relief for middle income American families......

House Minimum Wage Bill to Include Reforestation Incentive and Estate Tax Relief

In late February, House leadership announced plans to bring minimum wage legislation to the floor. 

Thanks to your efforts and those of like minded individuals and organizations, two of our important timber tax issues are included in this legislation. An estate tax provision and a reforestation/amortization provision.....

Lawmakers Urge Speaker to Make Estate Tax Repeal a Priority

Representative Jennifer Dunn (R-WA) and more than 80 House GOP members urged Speaker Dennis Hastert (R-IL) to make elimination of the estate tax key legislative priority during the second session of the 106th Congress.

In their February 2 letter the lawmakers noted that "death tax repeal enjoys widespread popular support both in the House of Representatives and throughout the nation.....

Tax Listening Session

On February 1 Majority Whip Tom DeLay and members of the House Republican Leadership hosted a listening session regarding possible tax reduction legislation. FICT and other invited groups were given an opportunity to share their viewpoints about the possible overall legislative agenda as well as reasons for moving specific legislation this year.....

Death and Taxes at the State Level

On February 1, 2000 the State of New York joined the vast majority of states that have repealed the tax they impose on top of the federal estate tax. To date, only twelve states still impose this additional level of estate taxation.....

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