The Corner

Death Tax Lives …

Senate update: Cloture just failed on the estate tax bill – 56 to 42, 4 shy of the 60 needed to proceed to the bill itself.

UPDATE: From DeMint’s office:

DEMOCRATS BLOCK FAMILY PROSPERITY ACT 

Washington, D.C.Washington, D.C. – U.S. Senator Jim DeMint (R-South Carolina) made the following statement Thursday after Democrats obstructed legislation to permanently reduce the death tax, increase the minimum wage, and extend several important tax relief provisions.  The proposal, called the “Family Prosperity Act,” was blocked on a 56-42 vote.

“Democrats voted in block tonight against American families by refusing to support the Family Prosperity Act.  This bill would keep our economy growing, raise everyone’s income, and permanently reduce the unfair death tax.

“I don’t think I’ve ever seen a vote that so clearly demonstrated Democrats’ willingness to turn their backs on American families in order to score political points.

“I believe Americans will remember that Republicans worked hard to reach a true compromise here that would raise the standard of living for all American families.  I think they will remember that after years of rhetoric, Democrats proved they were all talk and no action.”

Working to score political points, Democrats blocked legislation to:

1.      Raise the minimum wage

2.      Permanently reduce the unfair death tax

3.      Extend several critical tax relief measures:  

  • State and Local Sales Tax Deduction
  • Research & Development Tax Credit 
  • College Tuition Deduction
  • Work Opportunity Tax Credit
  • Welfare to Work Tax Credit
  • Depreciation for Restaurants
  • Timber Capital Gains
  • Teachers Classroom Expenses deduction
  • Gulf Opportunity Zone 

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