Report Title:

Repeal of Death Tax.

THE SENATE

S.R. NO.

83

TWENTY-FIRST LEGISLATURE, 2001

 

STATE OF HAWAII

 
   


SENATE RESOLUTION

 

URGING THE coNGRESSIONAL DELEGATION OF the STATE OF HAWAII TO WORK TO REPEAL the DEATH TAX.

 

WHEREAS, women and minorities are owners of numerous small and medium-sized businesses, and the costly death tax prevents their children from reaping the rewards of a lifetime trying to make a better life; and

WHEREAS, farmers often face losing their farms because the federal government heavily taxes the estates of people who invested most of their earnings back into their farms and had only a small amount of liquid savings; and

WHEREAS, employees suffer when they lose their jobs because many small and medium-sized businesses are liquidated to pay death taxes and because high capital costs depress the number of new businesses that could offer them a job; and

WHEREAS, if the estate tax had been repealed in 1996, over the next nine years the U.S. economy would have averaged as much as $11 billion per year in extra output, and an average of 145,000 additional new jobs would have been created; and

WHEREAS, having passed the U.S. House of Representatives by a vote of 279 – 36, and having passed the U.S. Senate by a vote of 59 – 39, elimination of the death tax has wide bi-partisan support; now, therefore,

BE IT RESOLVED by the Senate of the Twenty-First Legislature of the State of Hawaii, Regular Session of 2001, that members of Hawaii's delegation to the Congress of the United States are respectfully urged to support and vote for the repeal of the death tax; and

BE IT FURTHER RESOLVED that certified copies of this Resolution be transmitted to President of the United States and the members of Hawaii's congressional delegation.

 

 

 

 

OFFERED BY:

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