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Honorable ________________
U. S. House of
Representatives
Washington, DC 20515
Dear Representative ________________:
The Estate and Gift Tax Rate Reduction Act will soon be
introduced by Representatives Jennifer Dunn (R-WA) and John Tanner
(D-TN). As a small businessperson within the tooling and
machining industry, I strongly support this legislation.
The estate tax is an unreasonable burden on small businesses.
Individuals who work all their lives building a business leave their
families behind, saddled with a huge tax bill-- on assets that have
already been taxed! Relief from estate taxes is pro-business,
pro-jobs, pro-family and pro-economy.
While Congress made real progress in the 1997 budget agreement,
it didn't go far enough. The tax rates, even after $1.3 million in
exemptions, can still reach 55 percent In the tooling and machining
industry, a business can easily have equipment worth that much on
the plant floor. If a family business has to sell machines to pay
the estate taxes, there won't be a business left to supply jobs and
continue playing a vital role in the economy.
The Dunn/Tanner bill would reduce the estate tax rates by 5
percent a year for ten years until it reaches zero, effectively
repealing the onerous tax on American families. I strongly urge you
to support the Dunn/Tanner legislation.
Sincerely,
__________________________
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