On Friday the House
overwhelmingly voted to eliminate the death tax
which affects about 2 percent of all estates.
The vote was a surprising 65 Democrats and 214
Republicans, for a 279-136 vote for repeal.
Although Clinton is expected to veto the
measure, the numbers in the House indicate a
potential two-thirds margin to override,
according to the Wall Street Journal.
The
death tax issue may prove to be a hot topic this
fall with the repeal supported by presidential
candidate George W. Bush, and opposed by
Democratic presidential candidate Al
Gore.
Lobbyists, consisting of farming
and small business groups, continue to bring
estate-tax repeal to the forefront. Gradually
the movement is gaining support as American
wealth is increasing. House Ways and Means
Chairman Bill Archer of Texas commented, We will
erase it from the tax code forever in hopes that
it will never return from the dead to haunt
American families, farms and
businesses.
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