Republican Main Street Partnership Urges Death Tax Compromise

Centrist Republicans Will Lead Effort to
Provide Relief to Families

(Washington, D.C.) – On the heels of the Senate’s failure to move legislation designed to permanently repeal the estate tax, the Republican Main Street Partnership is urging Congress to move compromise legislation. "We can not let this critical tax relief issue fall by the way side. The Republican Main Street Partnership urges the Senate and House to pass compromise legislation on the death tax that will help protect America’s small businesses and family farms," said Sarah Chamberlain Resnick, Executive Director.

In the House, Main Street members will be working to pass compromise legislation, which will raise the estate exemption rate and reduce the estate tax rate. Centrist Republicans are committed to finding a compromise that can provide much needed relief to American families and can pass both houses of Congress.

"Grieving families, widows, and widowers must be protected from the death tax. It is common sense that the government should not be entitled to a financial windfall as a result of the death of a loved one. If we can’t get total reform lets look for compromise. This measure, when adopted, will help secure and protect the financial future of our families, small businesses, family owned businesses and farmers who are at the heart of America," said U.S. Rep. Jim Gerlach (R-PA).

No tax hits family farms and small businesses harder than the death tax. On far too many occasions, children are often forced to sell off family owned businesses and farms to pay the taxes due after the death of a parent.

Leading advocates for reform of the estate tax are supporting compromise legislation. Pat Soldano, head of the Policy and Taxation Group, has advocated a compromise that would rase the exemption rate, lower the tax rate, and retain the step-up basis. "The reality is that in this political environment, it may be now or never for death tax reform," said Soldano.

"This is an opportunity for our majority to deliver on an issue of critical importance to families all across this nation," concluded Resnick.

The Republican Main Street Partnership (RMSP) is dedicated to promoting and building the Republican Party as a fiscally conservative, inclusive "Governing Majority," where political debate is encouraged to promote common sense values and improve the lives of all Americans. Embracing the full spectrum of republican ideologies and values, RMSP is the largest organization of elected Republican centrists in the nation, with over 60 members in the U.S. House and Senate. For more information on RMSP, visit our website at www.republicanmainstreet.org .