While Democrats promised to close the 2010 gap when they took control of Congress, they failed to reach an agreement. This means that the estate of anyone who dies in 2010 will pass completely untaxed to their heirs. HR 4154 - Permanent Estate Tax Act of 2009 - 12/3/2009 This “death tax” legislation permanently imposes a 45 percent inheritance tax on estates larger than $3.5 million. It cancels a one-year repeal of the inheritance tax, which was set to begin in January 2010. The death tax is the worst form of double or even triple taxation of income that punishes families for working and saving their entire lives. Small businesses and family-owned farms are often hit the hardest by this tax. Recent reports show that eliminating the death tax would actually increase the government’s revenue and create 1.5 million jobs over the next two years. This legislation is not adjusted for inflation, which means more and more American families will be subject to this tax every year. http://nationalrepublicantrust.com/PelosiIndex/votes.php
FINAL VOTE RESULTS FOR ROLL CALL 929
H R 4154 YEA-AND-NAY 3-Dec-2009 2:31 PM QUESTION: On Passage BILL TITLE: Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Act of 2009
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