Washington, Apr 13, 2005 -

Today, U.S. Representative John R. Carter (TX-31, Round Rock) voted for and praised the passage of the Death Tax Repeal Permanency Act of 2005, H.R. 8.

The bill, which Carter is a co-sponsor of, passed by a vote of 272-162. Under the existing law the elimination of the Death Tax was set to sunset in 2010. This bill would make the elimination of the estate tax permanent. Repealing the Death Tax will increase the productivity of our economy and result in increased jobs for Americans.

A longtime of opponent of the Death Tax, Carter said, "It’s time we kill the Death Tax once and for all and forever."

Carter continued by saying, "Across the street from my church is a 400 acre farm. A second generation family is farming that land, but because of the growth in our county and the increase in land value due to development growth, the third generation of this family might not have the opportunity to continue the family tradition of farming."

"We must eliminate the Death Tax so that hard working citizens can pass on their farm or business to their children - that is the American dream," said Carter.

Studies have shown small, family-owned businesses are especially vulnerable to the Death Tax because most small-business owners have the entire value of their business in their estate. More than 70% of family businesses do not survive the second generation; 87% do not make it to the third generation.