Earl Pomeroy: “Mr. Speaker, I would observe that we would provide relief to the gentleman's farmer constituents to the tune of $6…”

“Mr. Speaker, I would observe that we would provide relief to the gentleman's farmer constituents to the tune of $6 million next year for a farm couple, no estate tax if they are below that. Under their legislation, there will be estate tax consequences if they are over $2 million. The time to address estate tax is to do it now. And our bill, effective on January 1, makes the estate tax go away for 99.7 percent of all Americans, those with estates of $6 million and others. I cannot understand why, if the problems are so severe as we are hearing from the other side, they do nothing under their legislation until the year 2011.”