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NFIB: Stop taxing
small businesses to death -- Pass death tax
relief now
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Release Date:
03/17/99
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WASHINGTON, March
17, 1999 -- The National Federation of
Independent Business (NFIB) echoed the
sentiments of a study released today that shows
the damaging effects of the death tax, urging
speedy congressional action.
Today the
Institute for Policy Innovation (IPI) released a
study, "The Case for Burying the Estate Tax."
The study demonstrates the harmful effects of
the death tax: it stifles growth, discourages
savings, kills jobs, drains resources and ruins
family businesses.
"Small business is
being taxed to death," said Brian Reardon,
NFIB's manager of federal public policy.
"Typically small business owners, family farmers
and ranchers are the hardest hit by the death
tax, paying a large share of death taxes. It's
time for Congress to encourage saving and
investment on Main Street. It's time for
Congress to repeal the death tax."
The
1995 White House Conference on Small Business
Issues Handbook says that more than 70% of all
family businesses do not survive through the
second generation and 87% do not survive through
the third. Eliminating the death tax would help
alleviate this problem.
CONTACT:
Repealing the death tax is a top priority in
NFIB's Small Business Growth Agenda for the
106th Congress. To learn more about the death
tax or NFIB's Small Business Growth Agenda for
the 106th Congress, please contact McCall
Cameron at
202.554.9000.
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