The Marine Retailers Association of the Americas is submitting letters to the U.S.
Senate and has launched a marine retailer grass roots campaign to kill the Death
MRAA supports a forthcoming bill to be introduced by Senator John
Thune (R-South Dakota) to permanently repeal the Death Tax.
MRAA has long
worked this issue and our efforts have been key in passage of several bills over
the past 20 years that have increased the threshold and decreased the tax
rate. However, those bills have now
sunset and new efforts are needed to kill the Death Tax.
The Thune bill already has 20
co-sponsors. A companion bill (H.R.
1259) has also been introduced in the House by Rep. Kevin Brady (R-Texas) with
The Death Tax was
originally passed by Congress in the 1890s to pay for the Spanish American
War. The tax hurts the beneficiaries of
small businesses and family farms who have to pay a high tax on inheritances
when the assets were already built on income that had been taxed.