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FOXX VOTES TO ABOLISH DEATH TAX
Washington, DC,
March 13, 2005
http://www.mtntv.com/community/news/?story=743
Tenth district representative Virginia Foxx was among those last night voting to permanently repeal the so-called Death Tax. Foxx says the Death Tax is the largest threat to the vitality of family-owned bu
Tenth district representative Virginia Foxx was among those last night voting to permanently repeal the so-called Death Tax. Foxx says the Death Tax is the largest threat to the vitality of family-owned businesses and farms because most of their owners have the entire value of their business or farm in their estate. The federal government currently receives nearly half of an estate when the owner dies. As a result, she says more than two-thirds of family businesses do not survive the second generation and nearly 90 percent do not make it to the third generation. |