JONES RECEIVES AWARD FOR OPPOSITION TO DEATH TAX

WASHINGTON, D.C. – Congressman Walter B. Jones (NC-3) has been presented the Benjamin Franklin Award by the 60 Plus Association in honor of his efforts to repeal the death tax.  Because it is imposed on assets transferred from a deceased individual to beneficiaries, the tax is particularly harmful to family businesses, which oftentimes are forced to cut employees, take out loans, or sell their property. 

“I am honored to be the recipient of the 60 Plus Association’s Benjamin Franklin Award,” said Congressman Jones.  “I will continue working toward a repeal of the death tax, which has proven time and again to be a job-killing burden on small businesses.  At a time when Americans are struggling financially, the government should be supporting – not stifling – economic growth.”  

“Senior citizens know they can always depend on Rep. Jones to abolish this painful tax on family-owned businesses,” said 60 Plus Association Chairman Jim Martin.  “This ‘temporary’ tax is anti-small business, anti-farmer, and is also a job-robbing confiscatory tax that should have been repealed nearly 100 years ago.”

Also known as the estate tax, the death tax has been instituted and subsequently repealed on three separate occasions in American history.  The current tax has been in place since 1916, when it was utilized to raise funds for World War I.  The effort for repeal has gained bipartisan support in both the House and the Senate.