McMorris Passes the Death Tax Repeal Permanency Act

(Washington, D.C.)  Congresswoman Cathy McMorris (WA-05) and the House of Representatives voted 272-162 to pass H.R. 8: The Death Tax Repeal Permanency Act of 2005. This was the first piece of legislation co-sponsored by McMorris in the 109th Congress. The bill makes the repeal of the estate tax, commonly referred to as the “Death Tax,” permanent beyond the year 2010.

“Growing up on a family farm in Eastern Washington, I have seen the negative effects the Death Tax has on our families and our businesses,” said McMorris. “One of my top priorities in Congress is to grow jobs and expand the economy in the northwest. Repealing the Death Tax will help accomplish that goal, especially for the farmers and small businesses in my district.”

The Death Tax has had a huge impact on the economy, costing thousands of jobs each year. Resources that could be used to expand a business or hire new employees are instead used inefficiently to plan for the impact of the Death Tax. By repealing this tax, jobs will be created and many small business owners will be able to add workers to their payrolls. The additional workers will accelerate economic activity and development in the nation – especially in rural areas.

“As a member who represents a significant farming sector, I have seen Death Tax destroy family farms. Without a doubt, death taxes hurt our farmers and our ranchers by forcing family farms to sell land, buildings, or equipment needed to operate their business in order to pay for this excessive tax. Some family farmers have had to take out a second mortgage on their home to pay for his tax.”

Repeal of this tax will help stimulate growth and raise incomes. This will allow individuals and families to invest more of their money and make financial decisions that are best suited for them.