Majority of Republican Presidential Candidates Sign Death Tax Repeal Pledge

August 11th, 2011 WASHINGTON, DC

On the eve of the Ames Straw Poll, nearly all of the 2012 Republican Presidential candidates have signed a pledge endorsing permanent repeal of the Federal Estate Tax, the American Family Business Institute (AFBI) announced today. The tax is currently set at 35 percent on all assets above $5 million and will increase to 55 percent on everything above $1 million starting January 1, 2013, making the future of the death tax an important issue during the current campaign season. “Ten of the 12 leading Republican Presidential candidates agree: the rate ought to be zero. Permanently,” said AFBI President Dick Patten. The pledge, organized by AFBI, has been signed by (in alphabetical order): Michele Bachmann; Herman Cain; Newt Gingrich; Gary Johnson; Thaddeus McCotter; Ron Paul; Tim Pawlenty; Rick Perry (poised to enter the race in coming days); Mitt Romney and Rick Santorum. Both Charles Roemer and Jon Huntsman have declined to sign the pledge (both decline all pledges). President Obama continues to support a permanent death tax of 45 percent. “The candidates who support repeal get it: Taxing Americans at death is the wrong policy to push when the country is in dire need of new jobs, which are created by the small and family businesses that are most susceptible to the death tax,” said Patten. “Repealing the death tax is the common sense policy for serious candidates.” For a complete list of Death Tax Repeal Pledge signers, visit: http://www.nodeathtax.org/deathtax/currentfight/2012-republican-presidential-candidates