The Seal of the State of Alaska
  Help    

   
Alaska State Legislature
    Home  |  News  |  Legislators  |  Committees  |  Bills  |  Surveys  |  Archives  |  AchievementsAlaska State Legislature
Alaska State Legislature
Alaska State Legislature
Alaska State Legislature
Alaska State Legislature

Advanced Search
Alaska State Legislature
· District Survey  
· Contact Staff  
· Biography  
· Committee Memberships  
· Transportation Com.  
· Press Releases  
· Opinion-Editorial  
· Personal Legislation  
· District Newsletters
& Info
 
· District Web Directory  
· Photo Album  
Alaska State Legislature
Alaska State Legislature
24th Alaska State Legislature
The 24th Alaska State Legislature
Alaska State Senator Charlie Huggins
Sponsor Statement

Click image for large 5'' x 7'' portrait
Session:
State Capitol, Room 417
Juneau, AK 99801-1182
Phone: (907) 465-3878
Fax: (907) 465-3265
Toll Free: (800) 862-3878
Send Email
Send Public Opinion Message
Subscribe to Newsletter - Privacy Policy

Interim:
600 E. Railroad Avenue
Wasilla, AK 99654
Phone: (907) 376-4866
Fax: (907) 373-4724

Repeal Federal Estate Tax
Sponsor Statement for Senate Joint Resolution 14
Alaska State Legislature
Alaska State Legislature
Attachments Attachments

 
Released:
March 18, 2005


"Urging the United States Congress to amend the tax code to permanently repeal the federal estate and generation-skipping transfer tax. "


"With passage of this legislation we will offer our support to Congress to act this year ending this tax on virtue, work, savings, job creation and the American dream."
- Sen. Huggins

 

SJR 14 urges Congress to permanently repeal the estate tax, commonly known as the death tax, on inherited estates.

There is a fundamental problem with people accumulating assets with income that has already been taxed, then requiring their survivors to pay taxes on those assets again through an inheritance tax. The tax is unfair, first of all, to the decedent and to his or her heirs. We are talking about people who work hard throughout their lives, perhaps start businesses, or buy homes or property where real estate values are skyrocketing, and then the heirs are left, in some instances, with not enough cash to pay the applicable tax so they are forced to liquidate the family business, farm, or home.

In 2001 Congress, working with President Bush, enacted bipartisan legislation, under the Economic Growth and Tax Relief Reconciliation Act of 2001, to phase out and eventually repeal the death tax until 2010. At that time they did not have the votes to make the repeal permanent so under Senate rules, the cuts could only be extended for the term of the budget, which is 10 years. Therefore in 2010 the estate tax is repealed, however it springs back to life in 2011 at its old rate of 55 percent and at an exemption level of only $1 million dollars.

President Bush has included the permanent repeal of the estate tax in his Fiscal Year 2006 budget proposal. Legislation has also been introduced this year in the U.S. Senate and U.S. House to permanently repeal the estate tax.

With passage of this legislation we will offer our support to Congress to act this year ending this tax on virtue, work, savings, job creation and the American dream.

# # #

 
Attachments:
 
·
Print Text Version
· Acrobat PDF Version [PDF - 1 page - 30 KB]
· Fact Sheet [PDF - 103 KB]
· Complete Bill Text for SJR 14


Sign Up For E-News!

Unsubscribe  Privacy
Alaska State Legislature
· 25th Legislature Info
House Majority
House Minority
Senate Majority
Senate Minority
BASIS
 
· 24th Leg. Special Session Info  
· Oil & Gas Production Tax Information  
· Keyword Search  
· Legislator Districts  
· Photo Table  
· Passed Legislation  
· Past Legislatures  
· More Web Tools  
· Majority Press Staff  
· Information Offices  
Requires Real Audio Player = Adobe PDF Reader  
Requires Real Audio Player = Real Audio Player  
Requires Real Audio Player = MP3 Audio Player  
Alaska State Legislature
Alaska State Legislature
Alaska State Legislature

1 Viewer(s)

Total at this time.
Alaska State Legislature
Alaska State Legislature
Alaska State Legislature
· District Survey  
· Contact Staff  
· Biography  
· Committee Memberships  
· Transportation Com.  
· Press Releases  
· Opinion-Editorial  
· Personal Legislation  
· District Newsletters
& Info
 
· District Web Directory  
· Photo Album  
Alaska State Legislature
Alaska State Legislature
Alaska State Legislature
Home  |  News  |  Legislators  |  Committees  |  Bills  |  Surveys  |  Archives  |  E-News  |  HelpAlaska State Legislature
Alaska State Legislature
The Official Web Site of the House and Senate Legislative Majorities
for the Alaska State Legislature

To Report Technical Problems or Contact Webmasterse-mail address list