AWMA joined with other members of the Family Business Estate Tax Coalition (FBETC) in signing onto a letter to Congress urging legislators to adopt legislation this year providing permanent estate tax relief for family businesses.

The letter asks lawmakers to recognize the uncertain nature of the estate tax structure over the next two years and the devastating impact such uncertainty is having upon small family-owned businesses that are the backbone of this nation’s economy.  Such action in making the estate tax repeal permanent is particularly critical now when the economic situation is this country is so difficult.  

The letter to Congress states, “the FBETC is on record this year supporting the Lincoln/Kyl estate tax amendment that passed the Senate floor with a majority of votes during the budget proceedings.  This amendment would provide family businesses with certain and permanent relief by reducing the top rate to 35% and increasing the exemption to $5 million.  Such relief is critical for family businesses at a time when they are struggling to expand their businesses and create much needed jobs.”