Senate Tax extenders in the House!!!!!!!!!!
Today, December 15, 2010 the Senate passed the tax extenders bill by a vote of 81-19. The House is projected to begin consideration of this legislation tomorrow, December 16.
The Senate version of the tax extenders bill contains reforms to the estate tax. The Senate language would tax families at 35 percent on property worth over $5 million. If the estate tax issue is not dealt with before January 1, 2011, the estate tax will revert to its original form of a tax rate of 55% on property worth over $1 million. The 35% rate in the Senate language is making some members of the House think the estate tax is too expensive and should be amended to a 45 percent tax rate on estates worth more than $3.5 million.
Colorado Farm Bureau is in strong support of the estate tax provision as passed by the Senate.
What you need to do is call your representative IMMEDIATELY! The main Capitol switchboard is 202-224-3121 and they can transfer you to your representative’s office. Urge your representative to support the estate language as passed by the Senate. Agriculture cannot afford for Congress to play political games with the estate tax issue. The House needs to accept the Senate estate tax language and pass the bill before adjourning for the year.
Diana DeGette-1st Congressional district
Jared Polis- 2nd Congressional district
John Salazar- 3rd Congressional district
Besty Markey- 4th Congressional district
Doug Lamborn- 5th Congressional district
Mike Coffman- 6th Congressional district
Ed Perlmutter- 7th Congressional district