The Congressional Record is a unique source of public documentation. It started in 1873, documenting nearly all the major and minor policies being discussed and debated.
“THE DEATH TAX ELIMINATION ACT” mentioning the U.S. Dept of Agriculture was published in the Extensions of Remarks section on pages E665 on April 15, 1999.
The publication is reproduced in full below:
THE DEATH TAX ELIMINATION ACT
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HON. MAX SANDLIN
of texas
in the house of representatives
Thursday, April 15, 1999
Mr. SANDLIN. Mr. Speaker, I rise today to introduce legislation that will improve the prospects of every family-owned and operated farm, ranch, and business in America. These small family farms and businesses are the backbone of the Texas economy, and the estate tax, often called the death tax, threatens their continued existence. It is time to end this tax--and my bill does just that.
The U.S. Department of Agriculture estimates that farmers' and ranchers' estates are six times more likely to face estate taxes than others' estates. In my travels around the 19 counties of the First Congressional District, evidence of the accuracy of this estimation pours forth. At nearly every stop I make, I hear horror stories from family members who were forced to sell all or part of the family farm just to pay estate taxes.
The death tax represents one percent of the Federal tax revenues. However, the impact to the taxpayers is far from insignificant. Not only does this punitive tax cause financial problems for families who are forced to sell property that has been in the family for generations or businesses built over a lifetime, but also local economies feel the impact as jobs disappear and businesses close. Clearly, the social and economic costs of the estate tax far outweigh the revenue it provides for the federal government.
The time has come to end this ill conceived tax. The tax that was originally intended to break up huge family estates now inhibits the passage of 70 percent of family businesses from one generation to the next. Two years ago, we took meaningful steps to reduce the burden of death taxes on family farms and small businesses in the Taxpayer Relief Act of 1997. The next step is to completely eliminate it and free families from this burden forever.
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