U.S. Senator Lamar Alexander (R-TN) today voted to proceed to a debate on H.R. 8, the Death Tax Repeal Permanency Bill. The motion to proceed, which required 60 votes due to objections by opponents of death tax repeal, failed by a vote of 57 to 41.
“I'm disappointed that, once again, death tax repeal has been blocked by a minority of senators in the Senate,” said Alexander, cosponsor of two pieces of legislation aimed at permanently repealing the death tax. “Nobody should be forced to sell the family farm or small business they've just inherited in order to pay the tax bill.”
In 2001, Congress passed a phase-out of the death tax, with full repeal effective in 2010. If Congress does not act, the law will revert back to where it was prior to 2001, placing an enormous tax burden on family-owned farms and small businesses.
Alexander is a cosponsor of S. 420, the Death Tax Repeal Permanency Act of 2005, sponsored by Sen. Jon Kyl (R-AZ) and S. 988, the Jobs Protection and Estate Tax Reform Act of 2005, sponsored by Sen. Jeff Sessions (R-AL). Both bills provide for permanent repeal of the death tax