Doug Bereuter: “this Member continues his strong opposition to the total elimination of the estate tax on the super-rich. The reasons…”

“this Member continues his strong opposition to the total elimination of the estate tax on the super-rich. The reasons for this opposition to this terrible idea have been publicly explained on numerous occasions, including statements in the Congressional Record. This Member has every expectation that this legislation in total is going nowhere in the other body. Furthermore, this Member has every reasonable assurance, in this unpredictable place, that there will be a straight up-and-down vote specifically on the elimination of the inheritance tax. At that time, this Member will most assuredly vote ``no'' and do everything in his power to defeat the total repeal of the inheritance tax for the wealthiest Americans. However, this Member is strongly in favor of substantially raising the estate tax exemption level and reducing the rate of taxation on all levels of taxable estates and introduced legislation, H.R. 42, to this effect. This Member believes that the only way to ensure that his Nebraska and all American small business, farm and ranch families benefit from estate tax reform is to dramatically and immediately increase the Federal inheritance tax exemption level, such as provided in H.R. 42. This Member's bill (H.R. 42) would provide immediate, essential Federal estate tax relief by immediately increasing the Federal estate tax exclusion to $10 million effective upon enactment.”