Alexander Cosponsors Permanent Repeal Of Death Tax

Thursday, October 31, 2013

Senator Lamar Alexander (R-Tn.) on Thursday announced that he would cosponsor legislation by Senator John Thune (R-S.D.) to permanently repeal the federal death tax.

“Nobody should be forced to sell the farm or family owned small business they’ve just inherited in order to pay the tax bill,” Senator Alexander said. “Tennessee benefits from being a low-tax state, and transferring some of that common sense to Washington by eliminating the federal estate tax burden on farmers and small businesses is especially important as we try to get our economy moving again.”

The death tax is a tax on estates that the federal government collects after a property or business owner dies. Currently, the federal estate tax rate is as high as 40 percent, with an exemption for the first $5.25 million in property in 2013.

On Jan. 1, the top federal estate tax rate was set to increase to 55 percent with a $1 million exemption. Alexander supported the “fiscal cliff” agreement (a law named the American Taxpayer Relief Act) that passed the Senate 89-8 and instead made permanent the top rate of 40 percent and the $5 million exemption, adjusted each year for inflation.

Senator Thune’s legislation, The Death Tax Repeal Act, would permanently repeal the federal estate tax, which Senator Alexander said would demonstrate “Tennessee common sense.” On April 27, 2012, the Tennessee General Assembly passed a bill that will eliminate Tennessee’s inheritance tax after 2015.


Upcoming City Council Agendas

Here are the upcoming City Council agendas: Agenda for Tuesday: I.    Call to Order. II.        Pledge of Allegiance/Invocation (Councilwoman Berz). III.    Minute Approval.              IV.    Special Presentation. V.    Ordinances ... (click for more)

2 Arrested In Bradley County For Burglary Of A Church

Heads-up work by detectives led to the arrest of two suspects in a burglary at Michigan Avenue Baptist Church. The break-in and theft from the church’s annex building where youth worship services are held occurred sometime from April 8 and when it was discovered on April 11.    Early in the investigation detectives found a DVD/VCR unit and dehumidifier that ... (click for more)

Time For Tennessee To Act On Climate This Earth Day - And Response

Tennessee will join the rest of the southeast region, the nation and countries across the world in celebrating Earth Day on April 22. The entire month of April is a great time to reflect on the strides we have made to reduce pollution over the last 44 years, and assess current environmental conditions while evaluating our personal responsibility to a cleaner environment.  ... (click for more)

Roy Exum: Why Jim Coppinger Excels

Jim Coppinger, who as the mayor of Hamilton County has understandably had to grow some thick skin, wants no part of the repulsive billboards now seen around town that ask, “Do you have gonorrhea?”  His Tuesday morning telephone call revealed he is just as disgusted as the rest of us who see them showing a picture of a forlorn African-American male. “You need to know the Hamilton ... (click for more)

Owls' Fugate Fires Two-Hit Shutout In 2-0 Win Over Blue Raiders

Ooltewah was on the verge of a District 5-AAA double-header sweep against Cleveland. But the Blue Raiders’ hot-hitting catcher Hunter Oliver had other ideas. The Owls rode Logan Fugate’s brilliant two-hit shutout and two first-inning runs to a 2-0 win over Cleveland in the first game at A.C. Bud Ball Field on Wednesday. “Logan is an absolute warrior,” Owls coach Brian Hitchcox ... (click for more)

Bucs' Willingham Strikes Out School-Record 17 In 5-A Win

Boyd-Buchanan’s Brandon Willingham threw a three-hit, complete-game gem and set a school record with 17 strikeouts in the Bucs’ 7-1 victory over Copper Basin on Wednesday. Willingham, a sophomore, improved his record to 6-0 on the season while the Bucs went to 14-9 overall and 5-0 in District 5-A. Willingham threw 101 pitches with 73 strikes in dominating the Cougars. Willingham ... (click for more)