Chuck Grassley: “an unlimited family business deduction sounds good, but what does it really mean? Really in the end, nothing. It totally…”

“an unlimited family business deduction sounds good, but what does it really mean? Really in the end, nothing. It totally guts the estate tax reform. It postpones rate decreases. It postpones meaningful unified credit increases until the year 2011. The RELIEF Act gives American taxpayers $3 million by the year 2006 and Senator Dorgan does not. The RELIEF Act is simple. Under our bill, there are no requirements, no long-term obligations to the IRS. I ask you to give real relief now and do that by defeating this amendment.”