Death Tax Lurches Forward
ISA recently joined with dozens of other small business trade associations to urge the U.S. Senate to prevent a change in tax law that could negatively impact many sign companies.
A letter from the Family Business Estate Tax Coalition, of which ISA is a member, was sent to coincide with the U.S. Senate considering S. 3412 on Wednesday, which Sen. Harry Reid (D-Nev.) introduced to lower the estate tax exemption from $5 million to $1 million, and increase the maximum tax rate from 35 percent to 55 percent. ISA opposes efforts to lower the estate tax exemption and increase the estate tax rate.
This coalition effort detailed for senators how estate tax relief is needed to ensure businesses are able to make sound economic decisions and stay competitive during these difficult economic times. Unfortunately, the Senate voted in favor of S. 3412, and now the measure moves to the U.S. House of Representatives. ISA will continue to oppose this legislation. For more information, please contact [email protected].
