Wednesday, June 08, 2011

Ohio Senate Budget Keeps Estate Tax Repeal

COLUMBUS, OH – Today, the Ohio Senate voted in favor of repealing the state estate tax as part of its version of Ohio’s FY 2012-2013 budget. A conference committee led by three members from each chamber will decide whether current estate tax repeal provision will remain in the budget.

The American Family Business Institute (AFBI), an organization representing family farms and businesses in Ohio and across the country, joins with grassroots, free-market organization Americans for Prosperity-Ohio (AFP-OH) in applauding the Senate for passing a budget which includes estate tax repeal.

Both organizations testified before the Ohio Senate in favor of repeal.

“By passing a budget which includes estate tax repeal, the Ohio Senate not only showed political courage, but also a keen sense of the changes Ohio needs to make so that families, businesses and jobs can thrive,” said AFP-OH State Director Rebecca Heimlich.

“The Ohio Senate was right to ignore the special interest lobbyists who profit from the estate tax and instead focus on the needs of Ohio’s job-creating, small business owners and farmers,” added AFBI President Dick Patten.

The Senate and House Conference Committee now will determine the final budget package.

“We encourage the Conference Committee to finalize a budget draft that fully repeals the estate tax by 2013 – and to do so quickly,” said Heimlich.

“Ultimately a budget that includes permanent estate tax repeal will make Ohio a friendlier state for family business owners, farmers and investors.” said Patten

More information is available at AFBI’s website, and the AFP-OH website,