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: ALVAREZ, MARCELINO P  207 LAWS AVE #A CHATTANOOGA, 37411  Age at Arrest: 45 years old Arresting Agency: Tenn Highway Patrol DRIVING UNDER THE INFLUENCE --- ARNOLD, DERRICK  5191 CENTRAL AVE CHATTANOOGA, 37401  Age at Arrest: 27 years old Arresting Agency: Chattanooga DRIVING ON ... (click for more)

Bradley County Authorities Hold Active Shooter Drill

The Bradley County Sheriff’s Office, Cleveland Fire Department, Bradley County Fire and Rescue, Bradley County 911 Communications Center, and Bradley County Emergency Management Agency took part in an active shooter exercise early this morning at Bradley Central High School to evaluate tactics and technologies for responding to and containing rapidly escalating shooting incidents. ... (click for more)

A Tribute For My Brother – Sgt. Jonathan Gardner, U.S. Army

Seven years ago today, my family and I found out that my brother, Sgt. Jonathan D. Gardner, was seriously injured by a roadside bomb, (explosively formed penetrator - EFP), while on a mission in Kuwait. The EFP went through the bottom of his seat and put a softball size hole in his upper thigh. The doctors said that if the bomb had entered the Humvee an inch to the right, he ... (click for more)

Roy Exum: The Saturday Funnies

All of us who marvel at the sound of bagpipes at a funeral realize the majesty that people like piper Scottie Maclellan can lend to any “homecoming” and for years there has been a wonderful tale out of Nova Scotia that leads this week’s parade of The  Saturday  Funnies. Mind you, I do not write these stories, as many who have followed man’s laughter down through the ... (click for more)

Orange Overwhelms White, 34-7, In Tennessee Spring Game

KNOXVILLE – After almost a month of spring camp and four quarters of ones versus twos, one glaring question remains: how much will the fall arrival of graduate transfer Keller Chryst change the dynamic of the battle for starting quarterback?   While new Tennessee head coach Jeremy Pruitt was calling for an electric atmosphere at Saturday’s Orange and White game, the ... (click for more)

Stoker, Tate Prevail In 50th Chickamauga Chase 15K

They couldn’t have asked for a more perfect day weather-wise for the oldest and longest running race on the Chattanooga Track Club’s schedule. Temperatures were cool, but not cold, and there wasn’t a cloud in the sky.   Add to that the fact there was very little wind and you have perfect conditions for the 50 th Annual Chickamauga Chase. A lot has changed with this ... (click for more)