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TIA - Tire Industry Association : TIA Signs On Death Tax Repeal Letter to House Speaker

07/19/2012 | 03:09am US/Eastern

Press Contacts: Mark Cook, Roy Littlefield

July 18, 2012 301-430-7280

TIA Signs on to Death Tax Repeal Letter to House Speaker

Bowie, Maryland - The Tire Industry Association (TIA) continues its strong support for the "Death Tax Repeal Permanency Act" (H.R. 1259) by joining 31 other organizations in sending a letter of support to U.S. House Speaker John Boehner.

The letter emphasizes the importance of repealing the death tax at the federal level and points out how the tide has changed and many states are now taking the lead in eliminating or mitigating estate taxes that unfairly penalize small businesses and family farms. The letter also thanks Speaker Boehner for taking "early action" to stop the currently scheduled 'taxmageddon' when the Bush era tax cuts are due to expire at the end of 2012 with the death tax rates jumping to a punitively high 55%.

"In survey, after survey, the death tax is the single biggest issue that the small business community is concerned about today. It is wrong for the government to artificially create these often insurmountable hurdles when a family is attempting to pass the business along to the next generation. Inheritance and estate taxes are jeopardizing small businesses and the jobs they provide," says Roy Littlefield, Executive Vice President of TIA.

In national surveys, nearly 70% of Americans consistently support full repeal of the death tax even in states with a Democratic majority like Oregon, where a vote is coming in November to repeal their estate tax. Polling shows the repeal winning with a 17% margin.

In addition, the TIA supported Death Tax Repeal Permanency Act has almost 218 bi-partisan cosponsors. "It would be a wrong to not hold a vote on this important opportunity to stimulate the core of America's economic engine - small business," asserted TIA President Larry Brandt.

Added TIA Government Affairs Committee Chairman Randy Groh, "TIA is proud to be a strong and long-time supporter of the death tax repeal movement. We urge all tire dealers to tell their elected representatives, both in Washington and state capitals to join the movement."

About TIA:

The Tire Industry Association, with a 90 year history representing all segments of the national and international tire industry, is the leading advocate, as well as, instructor in technical training of tire service technicians. For more information, visit www.tireindustry.org or call 800-876-8372.

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