Vows repeal of “Death Tax”
Alexandria, VA – Representative Brady has been recognized with a national senior citizen’s award for promising to vote for repeal of the “death tax,” last imposed in 1916 to help finance World War I.
At a Capitol Hill photo ceremony with 60 Plus Association Chairman Jim Martin, Rep. Brady accepted the Association’s Benjamin Franklin Award.
60 Plus Chairman Martin noted, “It was Franklin who famously said there are two certainties in life, death and taxes, but because of the estate or ‘death’ tax, there is a third certainty— taxes after death. 60 Plus presents a Benjamin Franklin Award to those who support repeal. 60 Plus honors Rep. Brady with this award because Rep. Brady is working hard to get rid of that third certainty—taxes after death—and make Mr. Franklin’s famous quote accurate once again.
“The death tax has been imposed four times for defense purposes, in 1797, 1862, 1898, and 1916. It was repealed the first three times shortly after hostilities ended. But Congress failed to repeal when World War I ended. It’s long overdue for this intended ‘temporary’ tax to be repealed a fourth and final time.
“In 2005, the House of Representatives passed repeal by a 110 vote margin, 272-162, but it fell three votes short in the Senate. Over 40 Democrats, including eight members of the Congressional Black Caucus, voted to abolish it. Clearly eight Members from the CBC can’t be accused of voting for a ‘tax cut for the rich.’ The wealthy—liberals and conservatives alike—set up foundations to protect their assets.
“It’s family-run businesses, as well as farmers, and newly-emerging, minority-owned first generation businesses that suffer the most. This ‘temporary’ tax is also a job-robbing, confiscatory tax that should have been repealed 100 years ago.
“More than half of Congress has been elected since that 2005 vote. It’s time these Members of Congress were given an opportunity to vote up or down on this tax imposed to help finance WWI.”