New Study: “Cost & Consequences of the Federal Estate Tax”

WASHINGTON, D.C. — Congressman Kevin Brady, the author of the House bill to End the Death Tax Permanently, is releasing a major study Wednesday morning from the Joint Economic Committee Republicans that proves the Death tax is harmful and ineffective taxation that hinders entrepreneurship, hurts future revenues, and robs capital out of the free market.

Since its creation in 1916, the federal estate tax has robbed as much capital stock from the American economy ($1.1 trillion) as it has generated in federal revenue ($1.2 trillion), which doesn’t even capture the punitive compliance burden. The Death Tax not only fails to decrease inequality, it perversely creates a barrier to upward mobility for family-owned small businesses, farms and ranches.  

What: Telephone News Conference
Who: Texas Congressman Kevin Brady will be joined by Sen. John Thune (R-SD), the author of the Senate bill to permanently end the Death Tax, House co-sponsor Congressman Devin Nunes (R-CA), middle class farmers, ranchers and small business people affected by the Death Tax
When: Wednesday, July 25, 2012 @ 10:30am ET
Call-in Number: 800-857-7944 (Password: Texas)

Congressman Kevin Brady is the top Republican on the Joint Economic Committee and a senior member of the House Ways & Means Committee. Sen. Thune is the Chairman of the Senate Republican Conference and a member of the Senate Finance Committee.