Press Release

National Automobile Dealers Association Supports Complete Repeal Of The Death Tax

Washington, D.C., June 9, 2000 — The National Automobile Dealers Association (NADA) commended the U.S. House of Representatives for taking a step today toward preserving family owned businesses by voting to repeal the unfair "death tax."

H.R. 8, sponsored by Rep. Jennifer Dunn (R-Wash.) and Rep. John S. Tanner (R-Tenn.), which calls for the complete elimination of the death tax by 2010, overwhelmingly passed in the House today by a vote of 279-136. NADA has lobbied for passage of the bill on the basis that the death tax is the single greatest impediment to preserving the viability of family owned and operated businesses, including most car and truck dealerships.

"The decision by the House to repeal the death tax is an important step in the right direction and is long overdue," said Harold B. Wells, a new-car dealer from Whiteville, N.C. and NADA Chairman. "There is something very wrong with our system when a small business owner spends a lifetime building a business, paying taxes, providing jobs and serving the community only to have the government step in and take over half of everything upon the owner's death."

Although the Clinton Administration has indicated it will veto the bill in its current form, Wells said NADA will to continue its strong support for passage of the bill, which now must be considered by the Senate.

The National Automobile Dealers Association represents more than 19,500 franchised new-car and -truck dealers holding nearly 40,000 separate franchises, domestic and import. NADA provides its members counsel on legal and regulatory matters, represents dealers on Capitol Hill, develops data on the auto industry and operates training programs to improve dealership business operations.

For further information contact:
Michael Morrissey
phone: (703) 821-7121
e-mail mmorrissey@nada.org
Or
Kara Thorp
phone: (703) 827-7407
e-mail kthorp@nada.org