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78R5150 RVH-F

By:  Taylor                                                     H.C.R. No. 70 



CONCURRENT RESOLUTION
	WHEREAS, The death tax, also known as the estate tax, was not 
permanently eliminated but only temporarily phased out by the 107th 
Congress when it passed the Economic Growth and Tax Relief 
Reconciliation Act in June 2001; 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 spent trying to make 
a better life for their family; 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 their death; and
	WHEREAS, Employees suffer the loss of their jobs when small 
and medium-sized businesses are liquidated to pay death taxes and 
suffer, too, 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	WHEREAS, If the estate tax had been repealed in 1996, the 
United States economy over the next nine years would have averaged 
as much as $11 billion in extra output per year and averaged 145,000 
additional new jobs created per year; and
	WHEREAS, The persistent uncertainty created by the sunset 
provision in the federal law prevents families and small businesses 
from taking advantage of the temporary repeal; and
	WHEREAS, Having repeatedly been passed by both the U.S. House 
of Representatives and the U.S. Senate, elimination of the death 
tax has proven to hold wide bipartisan support, as shown by passage 
of the Economic Growth and Tax Relief Reconciliation Act; now, 
therefore, be it
	RESOLVED, That the 78th Legislature of the State of Texas 
hereby respectfully urge the Congress of the United States to 
support, work to pass, and vote for the immediate and permanent 
repeal of the death tax; and, be it further
	RESOLVED, That the Texas secretary of state forward official 
copies of this resolution to the president of the United States, to 
the speaker of the house of representatives and the president of the 
senate of the United States Congress, and to all the members of the 
Texas delegation to the congress with the request that this 
resolution be officially entered in the Congressional Record as a 
memorial to the Congress of the United States of America.