WASHINGTON, D.C. – The United States Chamber of Commerce strongly urged Congress to repeal the "death tax," when the Senate begins voting on the Death Tax Elimination Act of 2000 today. The Senate is considering phasing out federal estate taxes over the next ten years and also repealing the federal gift and generation-skipping transfer taxes.

"I want to reiterate our unequivocal support for complete repeal of the Death Tax," said Thomas Donohue, United States Chamber of Commerce President and CEO. "Because of the importance of this issue to America’s business, the Chamber will include votes on or relating to H.R. 8 as key votes on our annual "How They Voted" ratings for 2000."

Full repeal of the death tax would mean only a small revenue loss to the federal government, according to the Chamber. The tax is costly to collect and has spawned a whole industry to avoid paying it. Furthermore, outright repeal would preserve the livelihood of many small business owners.

"Death should not be a taxable event," said Donohue. "Anything less than complete and immediate repeal of the death tax will turn the American dream into a nightmare. It forces families to close small businesses and farms developed over generations, because heirs must sell to pay the death tax."

The U.S. Chamber of Commerce is the world’s largest business federation representing more than three million businesses and organizations of every size, sector and region.

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