Congressman Dennis Cardoza
18th Congressional District of California

The passage of H.R. 8 makes permanent the elimination of the death tax enacted in 2001 and set to expire in 2010.

"This issue boils down to fairness," Cardoza said. "The death tax causes the double taxation of many family assets, preventing family-owned businesses and farms from staying within the family. With the elimination of the death tax, these businesses and farms can be preserved and continue to provide jobs and stability during a period of economic uncertainty."

The permanent elimination of the death tax will enable families, small businesses, and farmers to plan their estates without having to worry about the possible reemergence of the death tax. Families will be in a better position to save for their children’s education, engage in new business ventures, plan for retirement, or make charitable contributions.