Feb 16, 2007

President Supports Death Tax RepealSource: SAF

A number of organizations, including the Society of American Florists (SAF), met recently to sign a letter to the president thanking him for demonstrating his continued support for family businesses. Again this year, President Bush included a provision to permanently eliminate the death tax in the fiscal 2008 budget.

SAF supports repealing the death tax because of the high cost of preserving a family business when the owner dies. Because of its complicated nature, many family businesses in the floral industry are concerned with the death tax. Under current law, the death tax is repealed in 2010 but will reemerge in 2011 at pre-2001 levels.

Neither the House nor the Senate has introduced legislation this year to reform or repeal the death tax. Senate majority leader Harry Reid (D-Nev.) strongly opposes any reduction in the estate tax and made it top priority last year in the 109th Congress.

To learn more, go to www.safnow.org.