montgomeryadvertiser.com-Sessions' bill would end estate tax

montgomeryadvertiser.com: "Sessions' bill would end estate tax

By Alexis Grant
Gannett News Service



SESSIONS
WASHINGTON -- Sen. Jeff Sessions, calling the federal tax on inheritances 'Draconian' and 'simply unfair,' introduced legislation Tuesday that would immediately repeal the tax.
'The death tax falls on small and medium-sized companies particularly hard,' the Republican senator said. 'We need to fight to bring this up for a vote.'
The estate tax, paid by the estates of the richest 2 percent of Americans after they die, generated about $24 billion for the federal government last year, according to the Internal Revenue Service. The estates of about 73,000 deceased Americans paid the bill. "