U.S. Sen. Christopher S. Bond cheered the Senate’s passage of the “Relief Act of 2001,” calling the broad-based rate reductions it contains a “a lifeline for the nation’s small businesses and farmers” and the death tax repeal “an antidote for the poison pill” that many family-owned businesses and farms are forced to swallow under current law.
Bond said the plan’s elimination of the estate tax will also phase out the number one jobs killer in the tax code and will simplify greatly the work lives of families who want to pass on their farms or small businesses to their children and grandchildren.
“With more tax dollars in hand, small business owners will be able to reinvest in their businesses — purchase new, more efficient equipment and expand their product lines and the services they render,” Bond said. “Most importantly, with this package of tax relief in effect, small businesses will be able to continue creating more jobs in out home town.”
