The Death Tax reform pushed through by President Bush early in his first term will be completed next year dropping the Death Tax rate to zero for 2010 after a gradual scale down. In 2011, the reform expires and the Death Tax returns to pre-reform levels of 55% with a $1 million exclusion.
Sources have revealed that President Barack Obama and some congressional leaders are unwilling to allow the Death Tax to disappear for even a year and plan to block the 2010 temporary death tax elimination with legislation to come out in the next few weeks.
FLA continues to fight for the full and permanent repeal of the Death Tax. FLA believes this is an unproductive tax which punishes private forest ownership and instigates undesired land-use change.
FLA will mobilize private forest landowners to fight against any Death Tax preservation legislation which would prevent the Death Tax from reaching zero in 2010. FLA members and allies should be ready to respond to FLA CapWiz alerts on Death Tax in the upcoming weeks.
Please send your questions and comments to Government Affairs Coordinator Brendan Davis at email@example.com.