What: All Issues : Fair Taxation : HR 2143. Repealing the Estate Tax/Final Passage of a Bill to Repeal the Estate Tax Which Targets Wealthy Taxpayers and Comprises an Important Source of Government Revenue. (2002 house Roll Call 219)
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HR 2143. Repealing the Estate Tax/Final Passage of a Bill to Repeal the Estate Tax Which Targets Wealthy Taxpayers and Comprises an Important Source of Government Revenue.
house Roll Call 219     Jun 06, 2002
Progressive Position:
Nay
Progressive Result:
Loss

Repeal of the estate tax had been part of the $1.35 trillion Bush tax cut package of 2001. Because an estate originally had to be worth more than $675,000 to qualify for the tax-which excluded all but two percent of inheritances-repealing it mostly benefited those at the very top of the income scale. But the repeal had been temporary-after 2010 the tax returned in close to its previous form. Republicans were determined to change this fact by repealing the tax permanently, and they proposed legislation in the House to do just that. Progressives opposed permanent repeal because it benefited only the very rich and deprived the federal treasury of a substantial amount of money. However, after a number of procedural attempts to kill or weaken the bill establishing permanent repeal, many Democrats voted with Republicans on final passage. Despite the opposition of Progressives, the bill passed 256-171.

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