MISSISSIPPI LEGISLATURE
2003 Regular Session
To: Rules
By: Senator(s) White, Gordon, Johnson (19th), Gollott, Michel, Moffatt, Nunnelee, Dickerson, Chaney, Lee, Ross, Kirby, Minor, King, Stogner, Carmichael, Harvey, Browning, Scoper, Mettetal, Hewes, Farris, Huggins, Burton, Cuevas, Carlton, Walls, Walden, Little, Canon, Furniss
A RESOLUTION REQUESTING THAT THE MISSISSIPPI CONGRESSIONAL DELEGATION WORK TO PERMANENTLY REPEAL THE DEATH TAX.
WHEREAS, under tax relief legislation passed in 2001, the death tax was temporarily phased out, not permanently eliminated; and
WHEREAS, women and minorities are very often owners of small- and medium-sized businesses, and the death tax prevents their children from reaping the rewards of a lifetime trying to make a better life; and
WHEREAS, farmers and other small businesses will face losing their farms and businesses if the federal government resumes the heavy taxation of citizens at death; and
WHEREAS, employees suffer when they lose their jobs when 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WHEREAS, if the estate tax had been repealed in 1996, over the next nine years the United States' economy would have averaged as much as $11 Billion per year in extra output, and an average of 145,000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, the persistent uncertainty created by the sunset provision prevents families and small businesses from taking advantage of the temporary repeal; and
WHEREAS, having repeatedly passed both the United States House of Representatives and the United States Senate, elimination of the death tax has proven to hold wide bipartisan support:
NOW, THEREFORE, BE IT RESOLVED BY THE SENATE OF THE STATE OF MISSISSIPPI, That the Mississippi Senate requests our elected Representatives and Senators in the United States Congress to support, work to pass and vote for the immediate and permanent repeal of the death tax.
BE IT FURTHER RESOLVED, That a copy of this resolution be furnished to the members of the Mississippi congressional delegation.