House eliminates death tax
Release Date: 06/13/00

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.

6.13.00

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