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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 |
Resolution Requests Repeal of Federal Estate and Gift Tax
For Immediate Release: May 7, 1999
Contact: Representative John Coghill at (907) 465-3719
Juneau -- The Alaska Senate Friday passed House Joint Resolution 34, which asks the U. S. Congress to pass legislation repealing the Federal Estate and Gift Tax.
"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," said Representative John Coghill (R-Fairbanks). "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."
HJR 34 requests that the U.S. Congress enact H.R. 86 introduced by U.S. Representative Christopher Cox of Texas, which would repeal Federal estate and gift taxes. Rep. Don Young (R-Alaska) is a co-sponsor of the legislation repealing the tax.
House Joint Resolution 34 passed 17-3.