500 congressional contenders sign pledge to repeal estate tax

“Considering that 10 times as many candidates signed the pledge this election season than did in previous elections shows that candidates finally understand that the majority of Americans support death tax repeal and believe that it is an important issue,” said AFBI President Dick Patten in prepared remarks. 

Pledge signers include Senate and House contenders Sharron Angle (Nev.), Dino Rossi (Wash.), Rand Paul (Ky.), Pat Toomey (Pa.), Ken Buck (Colo.), Marco Rubio (Fla.), Carly Fiorina (Calif.) and John Raese (W.Va.).

In addition, more than two-thirds of surveyed voters support a permanent repeal of the tax, which was repealed for 2010 but is set to return at a top rate of 55 percent on assets over $1 million starting in January. 

“It should be no surprise that the issue has gained such prominence in this election, since high estate tax rates have such a negative effect on jobs,” Patten said. “We’re confident that a Congress manned with our pledge signers will be prepared to take the necessary steps to pass permanent repeal of this un-American, outdated policy and stand up for small family businesses, the real job creators in our country.”