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.


PHOTOS: Swearing In Ceremony At Convention Center

County officials were sworn in during ceremonies Tuesday morning at the Convention Center (click for more)

Woman's Body Found In River Was Latasha Nichols

Family members say the woman's body found in the Hiwassee River was that of 34-year-old Latasha Nichols. She was reported missing last month. The family said DNA testing was conclusive that the body was hers. Family members say they want to know what caused her death. The viewing will be Wednesday from 4:30 to 7 p.m. at Jim Rush Funeral Homes in Cleveland. The ... (click for more)

Decimating The Chattanooga Public Library - And Response

Corinne Hill claims that the library is just undergoing a normal weeding process for eliminating books.  She has bragged that she's responsible for the elimination of over 100,000 books - with more to go. "Normal" weeding is not rampant throwing away.  Yes, books go to the Friends for their sale - where they get $2 for a $75 book and thousands wind up being recycled ... (click for more)

The Many Lessons I Learned From Helen McDonald Exum

Helen McDonald Exum was my friend and mentor. As I think of her passing I can only imagine the celebration that is happening in heaven as the news of her arrival is being told. I am sure that there is a party that not only has she organized but that there is not a detail that has been left to chance. I am sure that it is the grandest of events, for you see, she has been planing ... (click for more)

Silverdale Dishes Up 3-1 District 5-A Volleyball Victory

Silverdale Baptist Academy’s volleyball team served up a four-set victory over District 5-A rival Chattanooga Schools for the Arts and Sciences on Tuesday. The Lady Seahawks got a combined 17 service aces from Molly Rumfelt and Caroline Couch and posted a 3-1 win over the Lady Patriots at Silverdale. The set scores were 25-15, 25-18, 22-25, 25-11. Rumfelt, the only senior ... (click for more)

Soddy Daisy Soccer Tops Ooltewah, 5-1

Sophomore midfielder Soni Whalen scored two goals and senior Baylee Burk had a goal and an assist to lead Soddy Daisy to a 5-1 District 5-AAA girls soccer win against host Ooltewah Tuesday night. Carly Pifer and Kelsey Henry also scored for the victorious Trojans. Ooltewah's goal came in the 76th minute by Olivia Tawzer. Soddy Daisy improves to 3-2-1 overall and ... (click for more)