BILL REQ. #:  H-1021.1 

Read first time 02/13/2003.   Referred to Committee on Finance.

     TO THE HONORABLE GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES, AND TO THE PRESIDENT OF THE SENATE AND THE SPEAKER OF THE HOUSE OF REPRESENTATIVES, AND TO THE SENATE AND HOUSE OF REPRESENTATIVES OF THE UNITED STATES, IN CONGRESS ASSEMBLED:
     We, your Memorialists, the Senate and House of Representatives of the State of Washington, in legislative session assembled, respectfully represent and petition as follows:
     WHEREAS, Under tax relief legislation passed in 2001, the death tax was temporarily phased out, not permanently eliminated; 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 of trying to make a better life; 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 death; and
     WHEREAS, Employees suffer when they lose their jobs when small and medium-sized businesses are liquidated to pay death taxes; and
     WHEREAS, If the estate tax had been repealed in 1996, over the next nine years the United States economy would have averaged as much as eleven billion dollars per year in extra output, and an average of one hundred forty-five thousand additional new jobs would have been created; and
     WHEREAS, The persistent uncertainty created by the sunset provision prevents families and small businesses from taking advantage of the temporary repeal; and
     WHEREAS, Having repeatedly passed both the United States House of Representatives and the United States Senate, elimination of the death tax has proven to hold wide bipartisan support;
     NOW, THEREFORE, Your Memorialists respectfully pray that our elected Representatives and Senators in the United States Congress will work to permanently repeal the death tax.
     BE IT RESOLVED, That copies of this Memorial be immediately transmitted to the Honorable George W. Bush, President of the United States, the President of the United States Senate, the Speaker of the House of Representatives, and each member of Congress from the State of Washington.