Political Quotes

“Mr. President, the legislative business before the Senate deals with the so-called tax extenders. These extenders, as important as they are, represent only a small portion of the time- sensitive tax legislative business that needs to be completed. I have a chart that I have used the last few days illustrating the status of several pieces of absolutely must-do tax legislation. Earlier this week, I discussed the lack of action on this year's alternative minimum tax. I refer to that as an AMT patch. In a day or two, I will discuss the failure of Congress to act on the bipartisan 2001 and 2003 marginal rate cuts and Family Tax Relief Act. This evening, I want to discuss the lack of action on estate tax reform. Most of my colleagues know this about me--for as many years as I have been a representative of the people of Iowa, I have never believed that death--a person dying--should be a taxable event. Taxing people's assets upon their death is plain wrong, and their heirs should not be forced to sell a single asset in order to meet this arbitrary tax due date caused by death. Company assets should not have to be sold to pay taxes. The market, in fact, should determine when things are bought and sold because that is the very best measurement when a willing buyer meets a willing seller and they agree on a price and a time when a company should be sold.…”