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February 12, 2001 
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106th Congress, 2nd Session - House

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Key Manufacturing Vote Card - Estate Tax Repeal, Veto Override


September 6, 2000

Dear Representative:

On behalf of the 14,000 members of the National Association of Manufacturers (NAM), including approximately 10,000 small and mid-sized manufacturers, I urge you to vote to override the President’s veto of H.R. 8, the Death Tax Elimination Act.

Estate tax rates as high as 55 percent force the sale of many small manufacturing companies upon the owner’s death. The death tax burden far exceeds the liquid assets of most manufacturing families. When a small company is sold, the employees and local community often suffer as well. While many family-owned companies develop estate planning strategies, these are costly and time-consuming. The death tax generates costs to taxpayers, the economy and the environment that exceed its revenue benefits.

Currently, only one third of family-owned businesses survive into the next generation. For many of the two-thirds that don’t, death taxes are a prime reason. This is very short-sighted tax policy – a business that has to close and sell off assets to pay a death tax stops paying income taxes and payroll taxes – employees lose jobs and the government loses revenue.

The 106th Congress has voted twice to repeal this onerous burden. Now is the time to ensure the end of this unfair tax. The vote to override the veto of the Death Tax Elimination Act (H.R. 8) will be considered for designation as a Key Manufacturing Vote in the NAM voting record for the 106th Congress.

Sincerely,
Jerry Jasinowski
President

*Votes considered for designation as NAM Key Manufacturing Votes are approved in advance by our members who serve on the Key Vote Advisory Committee.  Eligibility for the NAM's Award for Manufacturing Legislative Excellence for the 106th Congress will be based on a member's record on Key Manufacturing Votes.

 
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