On the recordSeptember 7, 2000
death should not be taxed. Unfortunately, current law allows the IRS to do just that. When a person who owns a small business or a family farm passes away, the Government taxes up to 55 percent of that business' worth. The death tax has meant the end to thousands of family-owned enterprises. In fact, this tax prevents nearly 85 percent of these organizations from being transferred from one generation to the next. Business owners who can afford high-price lawyers can sometimes avoid passing on this tax to their families, but average Americans often cannot. The American Dream should not be taxed. And yet in vetoing this legislation, the Clinton-Gore administration is doing just that. It is wrong for the Government to compound the shock of losing a family member with the devastation of losing one's livelihood. Now is the time to right this injustice. Vote to override the Clinton-Gore veto of the death tax.
Source
govinfo.gov
