{"id":777,"date":"2011-01-07T11:38:44","date_gmt":"2011-01-07T18:38:44","guid":{"rendered":"https:\/\/thevwindependent.com\/news\/?p=777"},"modified":"2011-01-07T11:38:44","modified_gmt":"2011-01-07T18:38:44","slug":"latta-measure-seeks-estate-tax-repeal","status":"publish","type":"post","link":"https:\/\/thevwindependent.com\/news\/2011\/01\/07\/latta-measure-seeks-estate-tax-repeal\/","title":{"rendered":"Latta measure seeks estate tax repeal"},"content":{"rendered":"<p>On the first day of the 112th Congress, U.S. Representative Bob Latta (R- Bowling Green) introduced H.R. 143, a bill that, if passed, would permanently repeal the estate tax and ensure that individuals are not taxed on the increased value of an estate by retaining the stepped-up basis at death.\u00a0 A copy of the legislation can be found <a href=\"http:\/\/latta.house.gov\/UploadedFiles\/112th_Latta_Estate_Tax.pdf\">here<\/a>.<\/p>\n<figure id=\"attachment_779\" aria-describedby=\"caption-attachment-779\" style=\"width: 250px\" class=\"wp-caption alignright\"><a rel=\"attachment wp-att-779\" href=\"https:\/\/www.thevwindependent.com\/news\/?attachment_id=779\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-779 \" style=\"border: 1px solid black\" src=\"https:\/\/www.thevwindependent.com\/news\/wp-content\/uploads\/2011\/01\/Latta-speaks-at-WBCC-10-15-10.jpg\" alt=\"\" width=\"250\" height=\"292\" \/><\/a><figcaption id=\"caption-attachment-779\" class=\"wp-caption-text\">Congressman Bob Latta<\/figcaption><\/figure>\n<p>The estate tax, also known as the death tax, is a federal tax levied against the assets of a person\u2019s estate when they pass away.\u00a0 Historically, the estate tax was levied at fifty-five percent of one\u2019s estate over $1 million, but the exemption level was increased over the past ten years after a series of tax cuts were signed into law in 2001 and 2003.\u00a0In 2010, individuals were freed from having to pay the estate tax.\u00a0 On January 1, 2011, the estate tax was reinstated for a two year time period at a 35% rate and a $5 million per person exemption.<\/p>\n<p>\u201cThe estate tax is archaic and goes against the grain of hard working American families who strongly believe in a founding principle of our country that with hard work, future generations can be better off than the last. Permanently eliminating the estate tax is an important step in ensuring that our small businesses and farmers, an integral part of our nation\u2019s economy, can grow and prosper into future generations.\u00a0 While the federal government may have taxed a portion of hard-earned American family dollars in the past, it doesn\u2019t mean they have the right to do the same to future generations,\u201d Congressman Latta stated after introducing the legislation.<\/p>\n<p>H.R. 143 has been referred to the House Ways and Means Committee.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the first day of the 112th Congress, U.S. Representative Bob Latta (R- Bowling Green) introduced H.R. 143, a bill that, if passed, would permanently repeal the estate tax and ensure that individuals are not taxed on the increased value of an estate by retaining the stepped-up basis at death.\u00a0 A copy of the legislation [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-777","post","type-post","status-publish","format-standard","hentry","category-news"],"publishpress_future_action":{"enabled":false,"date":"2026-05-07 16:27:55","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/777","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/comments?post=777"}],"version-history":[{"count":0,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/777\/revisions"}],"wp:attachment":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/media?parent=777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/categories?post=777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/tags?post=777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}