Video archive of the US Congress

Senate Proceeding 04-02-09 on Apr 2nd, 2009 :: 1:59:10 to 2:01:00
Total video length: 6 hours 34 minutes Stream Tools: Stream Overview | Edit Time

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Mitch McConnell

1:59:06 to 1:59:27( Edit History Discussion )

Mitch McConnell: i urge my colleagues to reject the amendment. mr. mcconnell: mr. president, i'm going to for a few minutes on my leader time. i am speaking in effect for senator kyl who has been our leader on the issue of the death tax for many, many years. the lincoln-kyl amendment upon

Mitch McConnell

1:59:10 to 2:01:00( Edit History Discussion )
Speech By: Mitch McConnell

Mitch McConnell

1:59:28 to 1:59:48( Edit History Discussion )

Mitch McConnell: which we're about to vote would decrease the burden on those who get hit with the death tax by increasing the exemption by $1.5 million to $5 million and by reducing the rate of taxation from 10% to -- to 10% -- down by 10 for 35%. no one should have to be on their assets twice.

Mitch McConnell

1:59:49 to 2:00:09( Edit History Discussion )

Mitch McConnell: and no one should have to visit the taxman and the undertaker on the same day. it's really the government's final outrage. if we can't repeal this tax, then we should at at a time when americans are already burdened by shrinking retirement savings. this budget in keeping with the administration's plan -- the presiding officer: the senate will be in order. the republican leader.

Mitch McConnell

2:00:10 to 2:00:30( Edit History Discussion )

Mitch McConnell: mr. mcconnell: this budget, in keeping with the administration's plan, seeks to keep the death tax exemption at $3.5 million and the tax rate at 45%. by offering an amendment that would lower the rate and the exemption, senators kyl and lincoln are offering crucial support and protection to small businesses, family ranchers, and

Mitch McConnell

2:00:31 to 2:00:52( Edit History Discussion )

Mitch McConnell: farms. this andment has wide bipartisan support, including senator nelson, pryor, and landrieu, all on the democratic side; and senators grassley, roberts, enzi, and collins on the republican side. it also has strong support from the small business community which desperately at the current moment.

Mitch McConnell

2:00:53 to 2:01:01( Edit History Discussion )

Mitch McConnell: it would spur economic growth, i would we need and it makes good overall economic sense since the death tax costs more to comply with than it raises in revenue.

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