MISSISSIPPI LEGISLATURE

2001 Regular Session

To: Rules

By: Senator(s) Michel, White (29th), Hewes, Harvey, Thames, Farris, Smith, Jackson, Johnson (19th), Chaney, Kirby, Scoper, Mettetal, Chamberlin, Hamilton, Nunnelee, Ross, Moffatt

A RESOLUTION REQUESTING CONGRESS TO REPEAL THE FEDERAL UNIFIED GIFT AND ESTATE TAX.

WHEREAS, the Federal Unified Gift and Estate Tax generates a minimal amount of federal revenue, especially considering the high cost of collection and compliance and, in fact, has been shown to decrease those federal revenues from what they might otherwise have been; and

WHEREAS, this "Death Tax" has been identified as destructive to job opportunity and expansion, especially to family farmers; and

WHEREAS, this "Death Tax" causes severe hardship to growing family businesses and family farming operations, often to the point of partial or complete forced liquidation, thereby depriving state and local governments of an important ongoing source of revenue; and

WHEREAS, critical state and local leadership assets are unnecessarily destroyed and forever lost to the future detriment of the community through relocation or liquidation; and

WHEREAS, local and state schools, churches and numerous other charitable activities would greatly benefit from the increased employment and continued family business leadership:

NOW, THEREFORE, BE IT RESOLVED BY THE SENATE OF THE STATE OF MISSISSIPPI, That we do hereby request that the Congress of the United States repeal the Federal Unified Gift and Estate Tax effective immediately.

BE IT FURTHER RESOLVED, That the Secretary of the Senate transmit certified copies of this resolution to the President of the United States, the Speaker of the United States House of Representatives, to the President of the United States Senate, to the Secretary of the Treasury of the United States and to each member of the Mississippi delegation of the United States Congress.