The coalition is supporting the 185 Members of Congress who have co-sponsored H.R. 8, to rectify the injustice caused by the collection of inheritance taxes. Every year, the livelihood of thousands of Americans is destroyed when, upon the death of a loved one, the IRS demands up to 55% of their estate. In order to pay this hefty sum American’s are forced to liquidate their assets and sell the family business.
"This is an antiquated, unjust tax that only serves to destroy the lives of countless, hardworking Americans," says Tim Hammonds, Chairman of AAUFT. "All Americans are hurt when prosperity and free enterprise, the very cornerstones of our nation, are crippled by our own tax system."
A 1996 Heritage Foundation study revealed that Estate Tax contributes less than 1.5% of federal revenue, while it’s collection and administration will cost more this year and next than it will actually yield.
"I am very encouraged that this group is committed to help Americans keep what is rightfully theirs," says Representative Dunn, (R-WA). "Everybody is affected by this tax, but the people who will feel it the most are small business owners and family run farms."
The effort led by AAUFT will include a complete grassroots campaign, a national television and print advertising initiative and a series of local town meetings designed to inform the American people.
"I’m absolutely thrilled that AAUFT has formed to wage this campaign," says Representative Tanner, (D-TN). "This effort requires broad support from around the country and AAUFT can help us educate America about this unfair tax."
Our campaign operates under this simple belief: "Death and taxes. Both are inevitable, but they shouldn’t be simultaneous." –Senator Connie Mack (R-FL).
Food Marketing Institute proudly advocates on behalf of the food retail industry. FMI’s U.S. members operate nearly 40,000 retail food stores and 25,000 pharmacies, representing a combined annual sales volume of almost $770 billion. Through programs in public affairs, food safety, research, education and industry relations, FMI offers resources and provides valuable benefits to more than 1,225 food retail and wholesale member companies in the United States and around the world. FMI membership covers the spectrum of diverse venues where food is sold, including single owner grocery stores, large multi-store supermarket chains and mixed retail stores. For more information, visit www.fmi.org and for information regarding the FMI foundation, visit www.fmifoundation.org.
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» Facts & Figures
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