Taxpayers

December 3, 2009 -- WASHINGTON, DC – Today, U.S. Congressman John Salazar voted to keep estate taxes from going up for more Colorado residents. Currently, the estate tax is scheduled to increase from 45 percent to 55 percent in 2011. Today’s vote on H.R. 4154, the “Permanent Estate Tax Relief for Families, Farmers and Small Businesses Act” is intended to prevent that increase from taking place. Specific details of the tax are provided below.    » read more »

December 3, 2009 -- (Washington, DC) - On Thursday, December 3, 2009, Congressman Steve Rothman (D – NJ) voted in favor of H.R. 4154, the Permanent Estate Tax Relief for Families, Farmers, and Small Business Act, which passed the House by a vote of 224 – 199.

This legislation permanently extends the current exemption from the federal estate tax of $3.5 million per person as well as the maximum tax rate of 45 percent on estates.

Without the bill, the estate tax would be eliminated entirely in 2010, and in 2011, the exemption would drop down to $1 million per individual while the estate tax rate would increase to 55 percent (from 45 percent this year).    » read more »

December 3, 2009 -- Washington, DC – Today, U.S. Rep. Ed Perlmutter (CO-07) voted to permanently extend estate tax relief to ensure small farms, businesses and families are not burdened from an unfair tax policy.

This will avoid a 10% tax increase and a lowered tax threshold of $1 million in 2011.

The Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act (H.R 4154) will maintain the current estate tax exemption at $3.5 million ($7 million for couples) and a maximum rate of 45%.    » read more »

"Reflects Commitment to Restoring Balance and Fundamental Fairness in Tax Code"

December 3, 2009 -- Washington, D.C. – House Speaker Nancy Pelosi issued the following statement following the House passage this afternoon of the Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act. The legislation passed by a vote of 225 to 200.

“The Estate Tax relief bill reflects our unyielding commitment to restoring balance and fundamental fairness in our tax code. This Congress is dedicated to fiscal responsibility and to leaving a legacy of progress and prosperity to our children and grandchildren. This legislation is critical to achieving both of these goals.    » read more »

December 3, 2009 -- Washington, D.C. – Congressman Jerry McNerney (CA-11) today voted to protect family farmers and small business owners from the devastating burden of the estate tax by opposing H.R. 4154, legislation supported by House Democratic leadership. This flawed legislation would extend the estate tax without exemptions for family farmers and small businesses owners. The proposal is also not indexed to inflation, which is necessary to prevent an increase each year in the number of farms and small businesses affected by the estate tax.    » read more »

Congressman says bill didn’t get adequate debate, does too little

December 3, 2009 -- WASHINGTON, DC -- Earlier today, Rep. Jim McDermott (D-WA) voted “no” on the Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act of 2009 (HR 4154).

“I voted no because I can’t see why we would make such an important and permanent decision without the benefit of proper hearings,” Rep. McDermott said. “We needed to have had a broader discussion on fiscal policy in our country before voting on this.”    » read more »

House Passes Permanent Estate Tax Relief for Families, Farmers, and Small Businesses

December 03, 2009 -- Washington, DC - On Thursday, December 3, 2009, Congresswoman Carolyn McCarthy voted in favor of H.R. 4154, the Permanent Estate Tax Relief for Families, Farmers, and Small Business Act, which passed the House by a vote of 225 – 200.

The bill would preserve the federal estate tax exemption of $3.5 million per person ($7 million per married couple) as well as the maximum tax rate of 45 percent on estates. Without this bill the estate tax would be fully eliminated in 2010, and in 2011 the maximum estate tax would increase to 55 percent (from 45 percent this year) while applying to all estates valued $1 million per individual.    » read more »

Helps pass bill to exempt 99.75% of all Americans from paying any estate tax at all; Legislation will benefit small businesses, farmers and families

12/03/09 -- WASHINGTON, D.C. - Today Rep. Eric Massa voted to pass H.R. 4154, the Permanent Estate Tax Relief for Families, Farmers and Small Businesses Act of 2009. The Permanent Estate Tax Relief Act maintains the current estate tax exemption for inheritances of less than $3.5 million per individual ($7 million for married couples). The Estate Tax was originally introduced over 100 years ago by Republican President Teddy Roosevelt. The bill passed by a vote of 225-200.    » read more »

December 3, 2009 -- Today, Rep. Dan Maffei voted to provide certainty for American families, small businesses and farmers by permanently extending the current estate tax exemption. The Permanent Estate Tax Relief Act maintains the current estate tax exemption for inheritances of less than $3.5 million per individual ($7 million for married couples).

Rep. Maffei said: “Small businesses and farmers are two of our greatest engines of job creation and economic growth. This bill gives them the certainty, stability and peace of mind to plan for the future during a time of enormous economic challenges.”    » read more »

December 4, 2009 -- (Washington, DC) – U.S. Rep. Rush Holt issued the following statement in support of legislation that would extend permanently the current estate tax exemption, providing certainty for American middle-class families, family-owned businesses, and farmers. small businesses and farmers by permanently extending the current estate tax exemption.

The Permanent Estate Tax Relief Act, which passed the House last night, would maintain the current estate tax exemption for inheritances of less than $3.5 million per individual ($7 million for married couples).    » read more »

December 3, 2009 -- (Washington, DC) – This afternoon, Congressman Alan Grayson voted in favor of the Permanent Estate Tax Relief For Families, Farmers, and Small Businesses Act of 2009 (H.R. 4154).

Congressman Grayson said, “Opponents of the bill wanted Congress to implement another ridiculous tax cut for the rich, one year after the American people convincingly repudiated those policies.”

The current estate tax exemption amount is $3.5 million ($7 million total for a married couple) and the maximum tax rate on estates is 45%. The bill would permanently extend this estate tax exemption amount and tax rate.    » read more »

San Antonio, TX – Tonight, the House of Representatives passed the Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act of 2009 (HR 4154), which would permanently exempt estates under $3.5 million per person from the estate tax, by 225 to 200.

Although family matters prevented him from voting, Congressman Charlie Gonzalez (TX-20) issued the following statement of support for the bill.

“For too long, small business owners and farmers have been harried by uncertainty about the estate tax. This bill not only exempts 99% of Americans from owing any tax at all, but it makes the tax rates permanent, bringing long-needed certainty to the process. I applaud my colleagues for this improvement to our tax code.”    » read more »

Legislation to Exempt 99.8 Percent of Estates from Taxes, Vote Will Help Small Businesses Owners and Farmers

Washington, Dec 3 - Today, Rep. Bill Foster (IL-14) voted to pass H.R. 4154, legislation that would permanently extend estate tax relief to ensure that 99.8 percent of estates in America would not have to pay the estate tax.

“Particularly in a struggling economy, the estate tax can place an additional burden on small businesses and farmers, and by lifting this burden, small businesses and farmers will continue to be the engine that drives our economic recovery,” said Foster. “According to the Joint Committee on Taxation, only 7,600 nationwide will pay the estate tax in 2011 as a result of this bill – 37,000 fewer than would pay the tax under current law.”    » read more »

Congressman co-sponsored vital economic legislation

Washington, DC -- Dec 3, 2009 -- U.S. Rep. Bob Etheridge (D-Lillington), the only North Carolina member of the House Ways and Means Committee, voted in favor of H.R. 4154, the “Permanent Estate Tax Relief for Families, Farmers, and Small Business Act of 2009”. The bill would make permanent the current $3.5 million individual estate tax exemption, providing estate tax certainty for all Americans and helping family farmers and small business owners.    » read more »

June 17, 2009 -- WASHINGTON – In an effort to protect the interests of taxpayers, U.S. Senators Bob Corker (R-TN) and Mark Warner (D-VA), both members of the Senate Banking Committee, today introduced legislation with the ultimate goal of removing the federal government’s control of TARP (Troubled Asset Relief Program) assisted institutions. The bill provides for a responsible exit strategy from government ownership of TARP-recipient companies, which by this fall, will include AIG, Citigroup, and General Motors.    » read more »