Press Releases

Congressman Earl L. “Buddy” Carter (GA-01) voted today to fully repeal the death tax. Carter is a cosponsor of H.R. 1105, the Death Tax Repeal Act of 2015, that passed the United States House of Representatives today to fully repeal the federal estate and generation-skipping transfer taxes, better known as the death tax.

“This legislation will finally put an end to this unfair tax that tears apart family businesses and farms,” said Carter. “Eliminating the death tax will not only provide stability to hardworking Americans who hope to share their life savings with their children and grandchildren, but it will also provide strong economic growth and job creation. The Senate and President Obama should act swiftly to make this law.”

A 2012 Joint Economic Committee (JEC) report called the death tax “an overwhelming cause of the dissolution of family businesses.” JEC estimates that the death tax has cost the Unites States economy an estimated $1.1 trillion in capital accumulation. Additionally, a recent study by the Tax Foundation found that repeal of the death tax would increase the U.S. capital stock by 2.2%, boost the economy, create 139,000 jobs and eventually increase federal revenue.

“While I am pleased that the House passed this legislation today with my support, this opportunity should be used to call for a greater simplification of our antiquated tax code,” said Carter. “As Georgians start to recover from the burden of tax season, we must move forward with pro-growth tax reform, like the Fair Tax, to create a fairer, simpler and flatter tax code to build a stronger economy.”

Original cosponsorship of H.R. 25, the Fair Tax Act of 2015, was Carter’s first act as a Member of Congress. In addition to eliminating the death tax, the Fair Tax eliminates all personal and corporate income taxes, gift taxes, and the payroll tax.