Vol. 1 No. 15 -- Week of June 5, 2000

Ending the Unfair Death Tax

The House voted this week for legislation I cosponsored to repeal the estate tax, which is commonly known as the death tax. Farmers, ranchers, and small business owners pay taxes throughout their lifetime. It is unfair for the federal government to force them to pay up to 55% of their savings, their business, or their farm in taxes when they die.

For many people, the American dream is to start a small business, work hard, and eventually hand it over to their children. But the death tax prevents thousands of Americans from being able to do just that. In fact, less than half of all family-owned businesses survive the death of a founder and only about five percent survive to the third generation.

The last thing that a family grieving the loss of a loved one should have to worry about is losing the family business or farm to the Internal Revenue Service. We need to repeal the death tax so that family businesses can be passed down to children and grandchildren, and family farms can continue to exist. The Death Tax Elimination Act (H.R. 8) would phase out the estate tax over 10 years.

Pushing for Greater Disclosure of Individuals and Groups Behind So-Called Issue Ads

I participated in a news conference on Capitol Hill this week to announce the introduction of the Accountability and Disclosure Act. I am an original cosponsor of the bill to require greater disclosure of those behind so-called issue ads.

Unlike regulated campaign ads sponsored by candidates, corporations, unions, and other special interest groups, issue ads take advantage of loopholes and communicate their message without having to disclose the true identities of the individuals paying for the ads. These groups spend millions of dollars nation-wide on unregulated ads to influence the election process. I think people have the right to know who is trying to influence their votes.

The Accountability and Disclosure Act would require ad sponsors spending $10,000 a year or more on election-related communications to identify its officers or the people responsible for the ad and to identify individuals providing at least $1,000 per calendar year to the sponsor and the amount provided. Broadcast ads must also contain a tag line identifying the name of the people who provided the ad for broadcast. Violators of the new disclosure requirement would be forced to pay a significant fine and could serve up to one year in prison.

Bass Introduces Bill to Require the Reduction of Publicly Held Debt

In my opinion, there is no greater gift we can give to Americans today and to future generations than to pay down the debt of previous tax-and-spend congresses. I have introduced legislation to require the retirement of most of the nation’s $3.4 trillion publicly held debt. Beginning with Fiscal Year 2002, the Debt Reduction and Control Act (H.R. 4505) would establish a regular schedule of minimum annual debt reduction to help neutralize the debt in as few as ten years and save the Social Security surplus.

In 1998, the first payment on the public debt was made since 1969, when Congress began deficit spending. A strong economy and our commitment to a balanced budget have helped pay down a total of $140 billion in the last two years and a larger reduction is expected this year. By replacing ad-hoc efforts made on an annual basis with a statutory requirement, however this bill would require debt reduction no matter which party controls Congress.

Amendments Would Increase Funding for Special Ed in House Appropriations Bill

The House began consideration this week of the Fiscal Year 2001 Labor, Health and Human Services, Education Appropriations Act (H.R. 4577). The bill before us only increases special education funding by $500 million. I have offered two amendments to boost federal funding in the bill for the Individuals with Disabilities Act (IDEA), which mandated special education in public schools.

One of my amendments, which has yet to be considered, would increase IDEA funding by an additional $200 million and decrease funding for Gear-Up by the same amount. A relatively new program, Gear-Up duplicates the services provided by two other federal programs designed to encourage children at a young age to pursue a college education. This is a worthy goal. But the pre-existing programs have been more successful at providing these same services.

I also introduced an amendment to add an additional $1 billion to funding for special education. The amendment, which failed on voice vote Thursday night, would have reallocated funding increases for various programs in the bill to help reach the $2 billion increase provided for by the Fiscal Year 2001 Budget Resolution and authorized by the IDEA Full Funding Act (H.R. 4155).

Restoring America’s Defense

I am committed to protecting our country and providing for the military personnel who represent our first line of defense. This can only be achieved with proper resources. Legislation to properly fund our Defense Department to meet the needs and challenges of the 21st Century passed the House this week with my support.

The Fiscal Year 2001 Defense Appropriations Act would reverse the massive defense cuts of the 1990s and provide the funding necessary to help improve the readiness of our armed forces, enhance the quality of military life for our service men and women, and accelerate the pace of equipment modernization.

Specifically, the bill would provide military personnel with a 3.7% raise and enhanced health care benefits. The bill would also bolster the nation’s cyberwar defense by providing $250 million for information technology programs.