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Cornyn Co-sponsors Bill To Permanently End The Death Tax
WASHINGTON—U.S. Sen. John Cornyn, a member of the Senate Small Business and Joint Economic Committees, has signed on as a co-sponsor of the Death Tax Repeal Permanency Act of 2005 (S. 420). The bill will permanently repeal the death tax, a tax which hurts family-owned businesses, farms, and ranches. “I am dedicated to working with President Bush to permanently eliminate the death tax. It’s an unfair and unjust tax that attacks family-owned farms, ranches, and agricultural businesses across Texas ,” Cornyn said. “No grieving family should ever have to face the undertaker and the tax man on the same day. We need to put the death tax on the path to extinction.” The Death Tax Repeal Permanency Act of 2005 provides that the sunset provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 (December 31, 2010) will not apply to the repeal of the death tax and generation-skipping transfer tax, making the repeal permanent. The bill, sponsored by U.S. Sen. Jon Kyl (R-Ariz.), has been referred to the Senate Finance Committee for review. Sen. Cornyn has worked regularly as a champion of the taxpayer. As a Senator, he has addressed several groups to highlight his support for permanently repealing the death tax, and providing much-needed tax relief to keep our economy growing. Sen. Cornyn has addressed groups such as the Texas Farm Bureau and the American Business Council and various agriculture roundtable discussion groups. Among the pro-jobs, pro-economic growth recognitions Sen. Cornyn has received are: the Spirit of Enterprise Award, United States Chamber of Commerce; the Hero of Taxpayer Award, Americans for Tax Reform; the Small Business Advocate Award, Small Business Survival Committee; and the Fighter for Free Enterprise Award, Texas Association of Business. Sen. Cornyn is the chairman of the subcommittees on Immigration, Border Security and Citizenship, as well as Emerging Threats and Capabilities. He serves as a member of the Armed Services and Judiciary Committees. Cornyn was previously Texas Attorney General, Texas Supreme Court Justice and Bexar County District Judge.