On April 16, every Republican in the U.S. House of Representatives voted to end the federal estate or inheritance tax they cynically call the "death tax." All but seven Democrats opposed the repeal.
Rep. Vern Buchanan of Florida's 16th Congressional District not only voted for the "Death Tax Repeal Act," he was a cosponsor.
When Rep. Buchanan was asked for his justification for giving multimillionaires and billionaires a tax break during a time of obscene income inequality in America, he responded, "Many families are forced to close, shut down, or sell family businesses simply because they cannot meet the massive tax burden thrust upon them after a death in the family."
An Internet search for statistics on "family businesses" forced to shut down de to estate taxes was unsuccessful.
However, I did find this: "Research indicates that family business failures can essentially be traced to one factor: an unfortunate lack of family business succession planning."
The term "family business" is also misleading; e.g., Walmart is considered a family business.
Also, according to the IRS, the first $5.4 million in estate inheritance is exempt from taxes, and a repeal of the estate tax would add a significant increase to the federal debt.
According to Roll Call, the capitol hill newspaper, Mr. Buchanan is the 10th wealthiest member of the House of Representatives, with assets valued at $44.21 million.
It seems to me that Mr. Buchanan's priorities are somewhat not in keeping with the best interest of his constituency and the country. Please keep this in mind when Mr. Buchanan runs for re-election