South Carolina General Assembly
116th Session, 2005-2006

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Bill 550


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A CONCURRENT RESOLUTION

REQUESTING THE CONGRESS OF THE UNITED STATES TO ABOLISH THE DEATH TAX IMMEDIATELY AND PERMANENTLY.

Whereas, under tax relief legislation the Death Tax was temporarily phased out beginning in 2001 but, if not permanently eliminated, will reappear in 2011 at pre-2001 tax rates; and

Whereas, the Death Tax places a tremendous tax burden on small businesses and family farms such that upon the death of their elders seventy percent of family businesses do not survive the second generation, and eighty-seven percent do not get passed onto a third generation; and

Whereas, the tax is particularly damaging for families working their way up the ladder and trying to accumulate wealth for the first time; and

Whereas, employees suffer layoffs when small and medium businesses are liquidated to pay death taxes; and

Whereas, if the Death Tax had been repealed in 1996 the United States would have realized billions of dollars in extra output and an average of 145,000 new jobs created each year since; and

Whereas, having repeatedly passed in the United States House of Representatives and Senate the repeal of the Death Tax holds wide bipartisan support. Now, therefore,

Be it resolved by the Senate, the House of Representatives concurring:

That the members of the South Carolina General Assembly, by this resolution, request that the Congress of the United States abolish the Death Tax immediately and permanently.

Be it further resolved that a copy of this resolution be forwarded to the United States Senate, the United States House of Representatives, and to each member of the South Carolina Congressional Delegation.

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