by Andrew Mangione –
In an effort to support family businesses and mature Americans directly, AMAC is proud to announce our support for a bicameral piece of legislation, the “Death Tax Repeal Act of 2013.” Representative Kevin Brady (R-TX) and Senator John Thune (R-SD) introduced H.R. 2429 and S. 1183 to protect small businesses and hard-working Americans – especially seniors and their families – from the devastating impact of the Federal estate tax, known more commonly as the “death tax.” Repealing this destructive tax is critical to keeping family businesses intact and to promoting socially and economically beneficial intergenerational saving. Currently, more than 70 percent of family businesses do not survive to the second generation, and 90 percent don’t survive to the third generation. AMAC believes the “Death Tax Repeal Act of 2013” is necessary to stopping these injustices and to promoting principles of personal responsibility, hard work, savings, and intergenerational altruism. AMAC greatly appreciates Rep. Brady and Sen. Thune’s concern for this issue and their steadfast commitment to older Americans, families, and small businesses. Thanks to their leadership on this important matter, AMAC is pleased to partner with Rep. Brady and Sen. Thune in combating the Federal death tax.