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CONTACTS: JO-ANNE PROKOPOWICZ (202) 637-3093 DOROTHY
COLEMAN (202) 637-3077
FOR IMMEDIATE RELEASE
NAM COMMENDS HOUSE TAXWRITERS FOR VOTING AGAIN TO
ELIMINATE THE DEATH TAX
WASHINGTON, D.C., May 25, 2000 – The National Association of
Manufacturers today praised House Ways and Means members for
approving a bill to phase-out the Federal estate and gift tax over
the next 10 years.
"Last summer, the NAM led the business community in supporting
legislation to eliminate the death tax. After a disappointing veto
by President Clinton, we are back again – stronger than ever – and
will not cease in our efforts to rid American manufacturers of this
onerous tax until Congress passes H.R. 8 and the President signs the
bill into law," said Dorothy B. Coleman, NAM’s vice president for
tax policy. "We are especially pleased with the bipartisan vote
today in Ways and Means and will continue efforts to ensure a strong
vote on the House floor.
"More than 10,000 of our members are small and medium
manufacturers so, for the NAM, elimination of the current estate and
gift taxes is a top tax priority. The phase-out of the burdensome
death tax will dramatically reduce the time, money and energy spent
by business owners on estate planning, saving many companies that
today must be sold for purely tax reasons upon the death of their
founders," concluded Coleman.
Be sure to visit our award-winning web site at http://www.nam.org/ for more
information about legislative, policy and economic developments
affecting manufacturers, employees and the economy.
-NAM- |