Dealer Groups Laud House Action

Dealer Groups Laud House Action To Permanently Repeal Death Tax

A top legislative priority of both NADA and AIADA, The Death Tax Repeal Permanency Act of 2003 passed the House last Wednesday by a vote of 264 to 163. The bill would permanently abolish taxes on estates by 2013, overriding the tax relief package of 2001 that eliminated the tax in 2010, only to resurrect it a year later.The fight now moves to the Senate, where a nearly identical bill last year failed to muster the necessary 60 votes for passage.AIADA Chairman Tim Smith praised the grassroots support by dealers in gaining House passage of the bill, but added, Our job is not done…until this tax is eliminated for good. He continued, We are forced to devote countless hours and resources to estate planning or risk the consequences. Our customers and the American economy would be much better served if these resources could be spent creating new jobs, developing new products and services and expanding business. While passage in the House was not in doubt, NADA worked closely with the House Leadership to shore up members who had not yet committed to assure a larger margin of victory. As part of that process, NADA President Phillip D. Brady sent a letter to all House members encouraging them to vote for passage of permanent repeal. Rep. Phil Crane (R-IL), a senior Republican member on the House Ways and Means Committee, commended NADA for its efforts, stating: I want to thank small business and family-owned business groups like the National Automobile Dealers Association for tirelessly fighting to end this punitive and harmful tax. They have been powerful and influential advocates in this effort. The timeline for a Senate vote has not yet been determined and could be in September, which would make it a hot campaign issue. This gives AIADA and NADA an outstanding opportunity during the summer months to get active at the grassroots level and make a strong push for Senate approval of permanent death tax repeal.