Log Cabin Praises House Passage of Permanent Death Tax Repeal
Death Tax Repeal Benefits Gay and Lesbian Families
(Washington, DC) – The United States House of Representatives voted overwhelmingly to permanently repeal the death tax. "Log Cabin praises the overwhelming vote to permanently kill the death tax. The vote is in line with the majority of Americans who support permanent repeal of the economically unsound death tax, which unfairly penalizes gay and lesbian families," said Log Cabin President Patrick Guerriero.
The permanent repeal legislation passed the House by a vote of 272 to 162. Forty two Democrats joined 230 Republicans in voting to permanently repeal the death tax.
Log Cabin has been lobbying aggressively for permanent repeal. When Log Cabin unveiled its 2005 legislative agenda in January it specifically highlighted permanent repeal of the death tax as a priority for the 109th Congress. Under current law, married couples are allowed a "marital deduction" that shields assets from taxation when one spouse dies. Gay couples are prevented from getting the same benefit. As a result, without permanent repeal, gay couples would be subject to the death tax twice.
The federal tax on inheritances, which is being gradually phased out under President Bush's temporary tax cuts of 2001 will revert to its previous rate of up to 60 percent in 2011 without Congressional action. A Senate companion bill, sponsored by Jon Kyl (R-AZ) and Bill Nelson (D-FL), was introduced in February.
"Log Cabin will continue to aggressively lobby the United States Senate to join the House and the overwhelming majority of Americans in bringing an end to this discriminatory tax," concluded Log Cabin Political Director Chris Barron.