ALEXANDER COMMENTS ON DEFEAT OF FAMILY PROSPERITY ACT

Posted on August 4, 2006

WASHINGTON, D.C. – U.S. Senator Lamar Alexander (R-TN) made the following statement after the Senate failed to reach cloture on the motion to proceed to the Family Prosperity Act (H.R. 5970) late Thursday night: “I’m disappointed the Family Prosperity Act was blocked by petty partisan politics. Once again, a minority of the Senate blocked a permanent reduction for the death tax, which means that some Tennesseans will still be forced to sell the farm or small business they've just inherited to pay the tax bill. “A minority of the Senate also blocked tax relief for Tennesseans, including the state and local sales tax deduction, deductions for teachers for expenses and for tuition, the research and development tax credit that will help us keep our good jobs at home instead of seeing them move overseas, and permanent tax fairness for our songwriters who should pay the same capital gains tax rates that other businesses pay.” ###