AMAC Joins with Coalition to Support Legislation that Repeals Death Tax

This legislation will help America’s family businesses create jobs, expand operations, and grow the economy.

March 9, 2021

Senator John Thune
511 Dirksen Senate Office Building
Washington, DC 20510

Congressman Jason Smith
2418 Rayburn House Office Building
Washington, D.C. 20515

Dear Senator Thune and Congressman Smith:

The undersigned organizations support your bill, the Death Tax Repeal Act.
We appreciate your work to lead the country towards a common sense tax code that does not impose a destructive double or triple tax at death. We support full and permanent repeal of the federal estate tax for the following reasons:

Repealing the death tax would spur job creation and grow the economy. Many studies have quantified the potential job growth that would result from estate tax repeal. In 2017, the Tax Foundation found that the US could create over 150,000 jobs by repealing the estate tax. A 2012
study by the House Joint Economic Committee found that the death tax has destroyed over $1.1 trillion of capital in the US economy – loss of small business capital means fewer jobs and lower wages. Lawrence Summers, former Secretary of the Treasury under President Clinton; Alicia
Munell, member of President Clinton’s Council of Economic Advisors; Joseph Stiglitz, a Nobel laureate for economics; and Douglas Holtz-Eakin, former CBO Director have all published work on the death tax’s stifling effect on job growth and the economy as a whole.

The death tax contributes a very small portion of federal revenues. The estate tax currently accounts for approximately one half of one percent of federal revenue. A 2016 Tax Foundation analysis found repeal of the death tax would increase federal income taxes by $145 billion over 10 years using a more realistic, “dynamic” economic analysis. In addition, the death tax forces family businesses to waste money on expensive insurance policies and estate planning. These burdensome compliance costs make it even harder for business owners to expand their businesses and create more jobs.

A super-majority of likely voters supports eliminating the death tax. Poll after poll has indicated that a super-majority of likely voters supports repealing the estate tax. Typically, twothirds of likely voters support full and permanent repeal of the death tax. People instinctively feel that the estate tax is not fair. A 2017 NPR/Ipsos Poll found that 65 percent of respondents favored repealing the estate tax, including 51 percent of self-identified Democrats polled.

The death tax is unfair. It makes no sense to require grieving families to pay a confiscatory tax on their loved one’s nest egg. Far too often this tax is paid by selling family assets like farms and businesses. Other times, employees of the family business must be laid off and payrolls slashed. No one should be punished for fulfilling the American dream.

The negative effects of the estate tax make permanent repeal the only solution for family businesses and farms. Your legislation will help America’s family businesses create jobs, expand operations, and grow the economy. We thank you for your leadership on this important issue.

Signed,

AMT – The Association For
Manufacturing Technology

Food Marketing Institute

Agricultural Retailers Association

Heating, Air-conditioning, & Refrigeration Distributors International

National Association of Electrical Distributors

National Lumber & Building Material Dealers Association

National Cattleman’s Beef Association

American Supply Association

National Cotton Council of America

International Franchise Association

National Grocers Association

Associated Equipment Distributors

ALEC Action Hardwood Federation

National Confectioners Association

Decorative Hardwoods Association

American Trucking Associations

Institute For Liberty

AMAC Action

Air Conditioning Contractors of America

Americans for Tax Reform

Forest Landowners Association

Associated Builders and Contractors, Inc.

National Association of Home Builders

Global Cold Chain Alliance

American Commitment

Log Cabin Republicans

Consumer Action for a Strong Economy

National Insulation Association

North American Meat Institute

Metal Construction Association

Truck Renting and Leasing Association

Council for Citizens Against Government Waste

AmericanHort

Mason Contractors Association of America

Coalition of Franchisee Associations

Industrial Minerals Association – North America

International Sleep Products Association

National Taxpayers Union

Gases and Welding Distributors Association

NTCA – The Rural Broadband Association

Arizona Free Enterprise Club

ISSA—The Worldwide Cleaning Industry Association

Independent Lubricant Manufacturers Association

National Electrical Contractors Association

Plumbing-Heating-Cooling Contractors—National Association

NAHAD – The Association for Hose and Accessories Distribution

American Sheep Industry Association

Wine & Spirits Wholesalers of America

National Grange

Associated Wire Rope Fabricators

International Housewares Association

Energy Marketers of America American Conservative Union

American Bus Association Association of Equipment Manufacturers

American Foundry Society

National Industrial Sand Association

National Ready Mixed Concrete Association

Aeronautical Repair Station Association

Equipment Marketing & Distribution Association

National Club Association

National Christmas Tree Association

American Business Defense Council

Education Market Association

Frontiers of Freedom

Auto Care Association

National Black Chamber of Commerce

National Small Business Association

Club for Growth

National Association for the Self-Employed

Conservatives for Property Rights

American Loggers Council

The Dude Ranchers’ Association

National Marine Distributors Association

International Association of Plastics Distribution (IAPD)

United States Cattlemen’s Association

International Sign Association

Small Business & Entrepreneurship Council

Family Business Association of California

American Beverage Licensees

Professional Beauty Association

Material Handling Equipment Distributors Association

FreedomWorks

Americans for Prosperity

Kitchen Cabinet Manufacturers Association

Maryland Taxpayers Association

Land Improvement Contractors of America

American Horse Council Center for Freedom and Prosperity

Franchise Business Services (representing Buffalo Wild Wings franchisees)

Tire Industry Association

Printing United Alliance

National Pasta Association

Kentucky Forest Industries Association

Independent Medical Distributors Association

Hispanic Leadership Fund

Association for Print Technologies

Irrigation Association

NACS – The Association for Convenience and Fuel Retailing

National Candle Association

Home School Legal Defense Association

Rural & Agriculture Council of America

American Moving & Storage Association

American Rental Association

Outdoor Power Equipment and Engine Service Association

Water & Sewer Distributors of America

National Wooden Pallet & Container Association

Independent Electrical Contractors

National Association of RV Parks & Campgrounds (ARVC)

NTEA – The Association for the Work Truck Industry

National Renderers Association

Equipment Dealers Association

United Egg Producers

NATSO, Representing America’s Travel Plazas and Truckstops

Metals Service Center Institute

Southeastern Lumber Manufacturers Association

National Franchisee Association (representing Burger King franchisee)

Competitive Enterprise Institute

Sazerac

Service Station Dealers of America and Allied Trades (SSDA-AT)

National Utility Contractors Association

National Community Pharmacists Association

Jewelry Industry Distributors Association

Financial & Security Products Association

Wholesale Florists & Florist Supplier Association

Retail Packaging Association

Fluid Power Distributors Association

International Sealing Distribution Association

Security Hardware Distributors Association

Equipment Services Association

U.S. Business and Industry Council

Window and Door Manufacturers Association

The Latino Coalition

Let Freedom Ring

Appalachian Hardwood Manufacturers Inc.

WMDA Service Station & Automotive Repair Association

60 Plus Association

Business & Institutional Furniture Manufacturers Association

Washington Area New Auto Dealers Association

Convenience Distribution Association

Distribution Contractors Association

National Tax Limitation Committee

Power and Communication Contractors Association

American Pipeline Contractors Association

American Values American Civil Rights Union

Less Government Campaign for Liberty

Center for Individual Freedom

Taxpayers Protection Alliance

Institute for Policy Innovation

Heritage Action for America

Family Business Coalition

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