Pressure is mounting on the U.S. Senate to act to prevent the estate tax reform from expiring at the end of this year.  As part of the effort to support estate – or “death” – tax reforms, AWMA sent the attached letter to the Senate urging swift action on this important issue.

AWMA has consistently supported a permanent repeal of the unfair estate tax but barring such action we would support a reform in the current system that would ensure a reduction in the maximum tax rate to 35 percent and increase the exemption level to $5 million.  Under current law, if the Senate does not act before the end of this year, the maximum rate will rise to 55 percent and the exemption level will be decreased to $1 million.

AWMA will continue to put pressure on the Congress to take immediate action on this issue that is of such importance to many of our small, family-owned businesses.  To view attachment, CLICK HERE