March 7, 2012
FLA Member Call to Action
Contact your Representative in the U.S. Congress and urge their
support of H.R. 1259, the Death Tax Repeal Permanency Act
The Death Tax law will be reinstated at the rate of 55% on all
assets above a $1 million exemption on January 1, 2013 unless
Congress acts to permanently repeal the tax.
Congress will act but only if they hear your voice.
We’re asking you to force attention to this important issue by
contacting your Member of Congress now about this devastating tax
and the unintended consequences it will have on you, your family,
and your employees.
FLA supported legislation passed in December 2010 (the Middle Class
Tax Relief Act) that repealed the tax entirely, but reinstated the
tax in 2011. The current, but temporary, 2011 law set the Death Tax
rate of 35% with a $5 million exemption.
Call to Action Needed by FLA Members
H.R. 1259 has strong bi-partisan support and is expected to pass in
the House of Representatives this spring.
What the Bill Will Do:
Amend the Internal Revenue Code to: (1) repeal estate and generation
skipping transfer taxes, and (2) make permanent the maximum 35% gift
tax rate and a $5 million lifetime gift tax exemption. (3) Maintain
stepped-up in basis provision to protect from high capital gains
taxes.
We are calling on FLA members to contact their representatives in
the U.S. Congress and urge their support of H.R. 1259.
Click here to see if your member of Congress is already sponsoring
H.R. 1259.
Click here to see if you member of Congress is NOT cosponsoring H.R.
1259
If your Member of Congress is not listed as a cosponsor, take action
by:
• Writing your Representative a
letter encouraging him/her to cosponsor H.R. 1259. Provide personal
facts about why their support of H.R. 1259 is important to you and
your family.
• Calling your
Representative
• Emailing your
Representative
For assistance contacting your Congressional Representative,
click here
to be directed to FLA’s Congressional Action website where you can
directly email your Representative and get contact information for
calling.
Tell Your Story
You can also help FLA be more effective by telling us your story of
how the estate tax has or could impact your ownership or management
of your land. We need real life testimony on how this onerous tax
has affected you in the past or how it could affect you in the
future. We’ll post your response on the website. Your comments will
bring this issue to life so please give it serious consideration.
We will share these real life stories with members of Congress.
Click here to share your story.
Do the math for your family’s situation.
This dramatic and unfair increase will force many private forest
landowners to liquidate property (potentially at market lows), alter
management plans, and prevent the transfer of property to succeeding
generations. A $1 million exemption is not high enough to protect
thousands of family forestland operations.
The Death Tax Destroys Family Businesses and Farms
• Fully one-third of all small business owners wind up selling some
or all of their businesses due to the death tax.
• Family businesses are often sold off in part or whole to pay the
tax.
• 70% of family businesses do not
survive the second generation and 87% do not survive the third
generation.
Rest assured that the Forest Landowners Association is working the
halls of Congress; educating policy makers and their staff about the
impact this tax has on private forest landowners and rural America.
We will not stop working on this issue, but the voice of forest
landowners and rural America is best heard from those of you with
personal stories and legitimate concerns.
Telling your story will have an impact. Do not underestimate the
value of your voice in Washington!
Building the Momentum
The good news is that a bi-partisan majority of the House of
Representatives supports permanent death tax repeal. The bad
news is that the White House and current Senate leadership continue
to ignore the evidence, the building House position, and the polls
that show that two-thirds of the American people support permanent
repeal. FLA is working with an allied organization, the American
Family Business Institute to ensure overwhelming support and passage
of H.R. 1259, the “Death Tax Real Permanency Act of 2011” in the
House and convince the U.S. Senate and Administration to act on this
issue.
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