Rep. Hanna calls for Death Tax Relief

Below is a press release from Rep. Hanna’s office:

REP. HANNA CALLS FOR DEATH TAX RELIEF
FOR OREGON FAMILIES, SMALL BUSINESSES AND FARMS

House Republican Plan Brings Oregon’s Estate Tax In-line with Federal Tax Law

SALEM”” Rep. Bruce Hanna (R-Roseburg) Tuesday presented the House Republican plan to reform Oregon’s death tax. The House Deputy Republican Leader, testifying before the House Revenue Committee, said HB 3430 will help many Oregon families, small businesses and farms with the devastating costs of a family member’s or owner’s death.

“There are many examples of families who have been forced to sell homes, small businesses, and farms, or go deeply into debt, in order to pay estate taxes,” Rep. Hanna said. “Our caucus strongly supports the concept of estate tax reform by increasing the exemption and moving toward reconnecting with federal law.”
HB 3430 increases Oregon’s estate tax exemption from $1 million to $2 million to match the current federal exemption. While the federal estate tax is scheduled to be eliminated by 2010, Rep. Hanna said reforming the state’s estate tax is a positive step toward increasing fairness in Oregon’s tax code.

“As housing prices continue to rise in our state, an increasing number of Oregonians will be affected by the state’s inheritance tax,” Rep. Hanna said. “The current law has and will continue to cost hundreds of Oregon families tens of thousands of dollars each year.”
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Posted by at 06:11 | Posted in Measure 37 | 8 Comments |Email This Post Email This Post |Print This Post Print This Post
  • CRAWDUDE

    Why does the government deserve a portion of what you produced throughout your life? Everything a person has when they die is produced from after tax income, I don’t understand why anyone believes the government is entitled to any of it.

    If you leave it to charity it’s not taxed but if you leave it to your loving family the government getS to tax it? What a joke!

  • Terence

    > Why does the government deserve a portion of what you produced
    > throughout your life?

    It is your cost for living in a protected, civilized society. You benefit from this — hence you should pay for it.

    • Tim Lyman

      Yeah, that’s presumably why we pay income taxes and property taxes. Estate tax is a tax on income on which taxes have already been paid. It is nothing more than grave robbing.

  • Jerry

    I only wish the society was protected and civilized, but, sadly, it is not.
    Terence – you can always send in more money if you think they really need it, but I know you never will…it is always someone else who should pay – just to keep things fair.
    Man, this is scary that people actually believe this nonsense. The taxes have already been paid Terence. Figure it out.
    Or maybe you can’t – maybe you don’t pay taxes now – just a wild guess…but you either have so much money you don’t mind paying taxes twice or you have so little money your estate will never be taxed. I am leaning toward the latter…

  • CRAWDUDE

    Terrence, we pay taxes our whole lives for the benefits that you listed and I’m not arguing that we shouldn’t. What you produce with the money left over after you pay your taxes is what you use to accumulated what you have at the end of your life, once again this is post tax money. The government has no right to money it’s already taxed in my opinion.

  • Jesse O

    “There are many examples of families who have been forced to sell homes, small businesses, and farms, or go deeply into debt, in order to pay estate taxes,” Rep. Hanna said.

    Interesting. When the federal estate tax was proposed, there was a $10,000 reward for anyone who could give an example of someone who had to sell their business because of an inheritance tax. No one could provide an actual example.

    • Tim Lyman

      I call B.S. Cite your source.

      • Tim Lyman

        That’s B.S. on Jesse – not the good rep.

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