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.


Latest Hamilton County Jail Booking Report

Here is the latest jail booking report from Hamilton County: ABBOTT, JEREMIAH JASON  HOMELESS ,  Age at Arrest: 35 years old Arresting Agency: Collegedale Booked for Previous Charges or Other Reason(s) --- ANDERSON, JACOB QUINTON  1101 NORMAN CHAPEL ROAD NW CLEVELAND, 37312  Age at Arrest: 21 years old Arresting Agency: Chattanooga DRIVING ... (click for more)

Latest Hamilton County Jail Booking Report

Here is the latest jail booking report from Hamilton County: ADKINS, ANGELA KAY  248 11TH AVENUE DAYTON, 37321  Age at Arrest: 48 years old Arresting Agency: Hamilton County POSSESSION OF DRUG PARAPHERNALIA DRIVING ON REVOKED, SUSPENDED OR CANCELLED LICENSE FINANCIAL RESPONSIBILITY CONTROLLED SUBSTANCE IN SCHEDULE II --- AMEY, ALEXANDER  2005 ... (click for more)

Slaxxon Regret - And Response

Back in the seventies my three oldest brothers had a buddy named Steve Slack. “Slack” was a star soccer player at Baylor and he grew up on Lookout Mountain, which is where I grew up. He and Jimmy, Henry and Bill went to the University of Virginia where they were roommates in an old, beat up house that was painted pink. Naturally, the place became known as the “Pink Palace” but lest ... (click for more)

Roy Exum: ‘Ballooniac’ Fined $25K

The Calgary Stampede is one of the biggest events in Canada and every year it draws well over 1.5 million people to one of the most beautiful places in the world. It started in 1912 as a big rodeo event and today it lasts 10 straight days. A highlight is the chuck-wagon races, where $4 million of advertisements are sold on the wagon’s canvas covers and there are pancake breakfasts ... (click for more)

South Pittsburg Wins Lookout Valley Invitational

The South Pittsburg Lady Pirates are playing pretty good softball these days and they rewarded themselves by winning the Lookout Valley Invitational Saturday afternoon at Lookout Valley Elementary’s O’Mary-Conard Field. The Lady Pirates won their pool with wins over Grundy County and CSAS on Thursday and Friday before beating Covenant Christian in the second semifinal Saturday ... (click for more)

Columbia Academy Stymies Soddy-Daisy 4-2

Soddy-Daisy won two games in the Ooltewah Invitational on Friday and hoped to carry that momentum over to Saturday’s contest against Columbia Academy at Tom Higgins Field. But the Trojans ran into junior left-hander Baylee Dees. Dees, who transferred to Columbia Academy from Page prior to the current school year, limited the Trojans to two hits and a run over six innings. ... (click for more)