By ASSET, Special for USDR.
A bill to repeal the death tax was introduced at a press conference today by Senator John Thune (R-ND) and Representative Kevin Brady (R-TX). Americans Standing for the Simplification of the Estate Tax (ASSET) commends the work of Senator Thune and Rep. Brady for their efforts to reform current tax law. ASSET hails the efforts to help small businesses and family farmers who are the primary targets of the current estate tax law.
“We need lawmakers to take another look at the effects of the estate tax,” said Jack Fitzgerald, founder of ASSET. “The jobs in small businesses and farms are always at risk with the current estate tax collection method. Lawmakers are trying to help preserve the jobs they create. ASSET is here to help bring stakeholders together.”
ASSET has long advocated that tax reform must address the estate tax because of the unintended consequences of the current law. The estate tax has plagued private businesses and farms for more than 90 years. The rich and famous who have the means successfully avoid the tax, even over many family generations.
ASSET stands ready to aid lawmakers in the debate about death/estate tax reform and seeks to find common ground to bring advocates from both sides together to find a workable solution. The ASSET coalition supports any effort to relieve the burdens of small businesses and farms from the estate tax, which will also help preserve the jobs created.
ASSET is a coalition of more than 3,000 private businesses, family farms and ranches, and their employees, founded in order to change the collection method for the Estate Tax, ensuring that the most successful taxpayers pay their fair share but in a far less distortive manner.