AIADA Lauds House Passage of Death Tax Elimination Act; Auto Dealers Target Senate for Grassroots Recess Effort

Apr 04, 2001, 01:00 ET from American International Automobile Dealers Association

    WASHINGTON, April 4 /PRNewswire/ -- The American International Automobile
 Dealers Association (AIADA) lauded the passage today of H.R. 8, the Death Tax
 Elimination Act of 2001, which would phase out the onerous tax over the next
 ten years.  "We are one step closer to the death of the death tax," said AIADA
 Chairman of the Board Richard Kull.  "For family-owned businesses like mine
 and for many automobile dealers, the death tax can be a death sentence."
     Thirty percent of America's automobile dealerships are second generation
 and 18 percent are third generation. These retailers are forced to devote
 countless hours and resources to estate planning or risk the consequences:
 the business having to be sold by their heirs to pay the death tax.
     "We now turn our attention to the Senate to call for passage of death tax
 repeal legislation now," continued Kull.  AIADA has sent 'Death Tax Repeal
 Action Kits' to nearly 10,000 members nationwide, activating a grassroots
 force of politically active automobile retailers who have made death tax
 repeal their number one priority.  These dealers will meet with their Senators
 during the upcoming congressional recess to urge their support for the
 elimination of the death tax.
     "It is fundamentally unfair that entrepreneurs who have taken the risk and
 responsibility to establish a small business and have worked hard to achieve
 the American dream are punished by the death tax. And it is wrong that death
 as an event should trigger such an enormous levy on a business that has
 already paid its dues to the federal government," said Kull.
 
     AIADA represents America's 10,000 franchised international nameplate
 automobile dealerships and their 375,000 employees.
 
 

SOURCE American International Automobile Dealers Association
    WASHINGTON, April 4 /PRNewswire/ -- The American International Automobile
 Dealers Association (AIADA) lauded the passage today of H.R. 8, the Death Tax
 Elimination Act of 2001, which would phase out the onerous tax over the next
 ten years.  "We are one step closer to the death of the death tax," said AIADA
 Chairman of the Board Richard Kull.  "For family-owned businesses like mine
 and for many automobile dealers, the death tax can be a death sentence."
     Thirty percent of America's automobile dealerships are second generation
 and 18 percent are third generation. These retailers are forced to devote
 countless hours and resources to estate planning or risk the consequences:
 the business having to be sold by their heirs to pay the death tax.
     "We now turn our attention to the Senate to call for passage of death tax
 repeal legislation now," continued Kull.  AIADA has sent 'Death Tax Repeal
 Action Kits' to nearly 10,000 members nationwide, activating a grassroots
 force of politically active automobile retailers who have made death tax
 repeal their number one priority.  These dealers will meet with their Senators
 during the upcoming congressional recess to urge their support for the
 elimination of the death tax.
     "It is fundamentally unfair that entrepreneurs who have taken the risk and
 responsibility to establish a small business and have worked hard to achieve
 the American dream are punished by the death tax. And it is wrong that death
 as an event should trigger such an enormous levy on a business that has
 already paid its dues to the federal government," said Kull.
 
     AIADA represents America's 10,000 franchised international nameplate
 automobile dealerships and their 375,000 employees.
 
 SOURCE  American International Automobile Dealers Association