Scott Opposes Repeal of Estate Tax
WASHINGTON, D.C. – Congressman Robert C. “Bobby” Scott (VA-03) issued the following statement on his No vote on H.R. 1105, the “Death Tax Repeal Act of 2015”:
“Budgeting responsibly often requires making tough choices but that is not what the Republican Majority has done today. Current law exempts $5.4 million in assets for individuals and $10.9 million in assets for couples from the federal estate tax. As if the current law wasn’t generous enough, the Republican Majority has made the choice to repeal the estate tax entirely and add $269 billion to the deficit over the next decade in order to give 0.2% of the wealthiest deceased Americans a tax break.
“Unfortunately, today’s vote is consistent with the bad choices the Republican Majority made last month in their budget – $187 billion in cuts to transportation, $89 billion in cuts to the Pell Grant, $19 billion in cuts to Veterans’ programs, $125 billion in cuts to the Supplemental Nutrition Assistance Program, and $913 billion in cuts to Medicaid. I think a vast majority of Americans would agree that the revenue that will be lost as a result of repealing the estate tax would be better used to curtail some of the deep spending cuts included in the Republican budget. Alternatively, if $269 billion were spent on an effective jobs program, we could create almost as many jobs as there are people officially unemployed today. We didn’t make that choice.”
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