What: All Issues : Making Government Work for Everyone, Not Just the Rich or Powerful : Insuring Government Has Adequate Financing to Function : HR 2143. Repealing the Estate Tax-Motion to Recommit. (2002 house Roll Call 218)
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HR 2143. Repealing the Estate Tax-Motion to Recommit.
house Roll Call 218     Jun 06, 2002
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The president's 2001 tax cut temporarily repealed the estate tax, which affected the largest two percent of private inheritances. The 2001 law increased the $675,000 cutoff for the tax until the tax disappeared entirely in 2010. What bothered Republicans was that this repeal itself disappeared in 2011, at which point the tax would return with a cutoff of $1 million. To correct this perceived deficiency, they proposed a bill in the House that would make the repeal permanent. Progressives opposed this move because the tax affected only the very richest Americans and repealing it deprived the government of a substantial source of revenue. Stenholm (D-TX) moved to recommit (send back) this bill to its committee with instructions that it be changed to forbid the permanent repeal if such a repeal would undermine the Social Security program. Progressives favored this change because they worried the tax repeal would affect the ability of Social Security to meet its obligations. They voted for Stenholm's motion, but their support was not enough. The motion was rejected 205-223.

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