Bob Franks: “today, with my support, the House passed legislation (H.R. 8) to eliminate the Death Tax. For too long, exorbitant tax…”

“today, with my support, the House passed legislation (H.R. 8) to eliminate the Death Tax. For too long, exorbitant tax rates have made it difficult for Americans to pass their savings onto their children, and for small businessmen and farmers to keep their enterprises within the family. That's why I cosponsored and voted in favor of the Death Tax Elimination Act (H.R. 8), which would phase out the estate and gift tax over a period of 10 years. It is my hope that phasing out the death tax will make it easier for individuals and families to accumulate savings for future generations. In addition, during debate on this important legislation, a motion was offered to address another important issue--campaign finance reform. I supported this motion. Congress's failure over the years to address the issue of campaign finance reform hurts all of us. It undermines public confidence in this institution and casts a cloud over every action we take in this House. I have been actively fighting for campaign finance reform in this House for a number of years--from authorizing my own Independent Commission Bill to supporting a ban on soft money through Shays-Meehan to supporting today's motion to close the 527 loophole.”