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Session: State Capitol, Room 416 Juneau, AK 99801-1182 Toll Free: (877) 465-3719 Phone: (907) 465-3719 Fax: (907) 465-3258 Send E-Mail Interim: 119 N Cushman Street, Suite 211 Fairbanks, AK 99701 Phone: (907) 456-5081 Fax: (907) 456-8245 |
Requests Repeal of Federal Estate and Gift Tax
For Immediate Release: April 14, 1999
Contact: Representative John Coghill at (907) 465-3719
Juneau -- The Alaska House of Representatives Wednesday overwhelmingly passed House Joint Resolution 34, which asks the U. S. Congress to pass legislation repealing the Federal Estate and Gift Tax.
House Joint Resolution 34 requests that the U.S. Congress enact H.R. 86 introduced by U.S. Representative Christopher Cox of Texas. Rep. Don Young (R-Alaska) is a co-sponsor of the legislation repealing the tax.
"Our government's basic premise is the right to enjoy the fruit of your labor and to own your possessions and pass on your bounty to your posterity, said Representative John Coghill (R-Fairbanks). "There is a fundamental problem with people accumulating assets with income that has already been taxed, then requiring their survivors to pay taxes on those assets again through an inheritance tax."
"'Death and taxes,' indeed," Coghill said.
House Joint Resolution 34 passed on a reconsideration vote 38-1 and now moves to the Senate.
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Majority Actuality line, 1-800-478-6540
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