WASHINGTON DC – ASSET proudly participated in the tax panel for the Associated Equipment Distributors (AED) on Capitol Hill today as their members prepare to visit Congress to advocate for change including estate tax reform.
Jack Fitzgerald, founder of Americans Standing for the Simplification of the Estate Tax, joined colleagues Jade West from the National Association of Wholesalers (NAW) and Chris Myers of Caterpillar, after Senator Deb Fischer (R-NEB) opened the panel and Rep. Pete Roskam (R-IL) closed.
Senator Fischer reflected on issues that constituents want addressed, which include reigning in government spending, fixing immigration and ending scandals, including the recent IRS targeting campaign.
Jack Fitzgerald reminded the AED members “the IRS isn’t done torturing you when you’re alive, they want more from you when you’re dead” as he segued into an update on the prospects of estate tax reform. “We have Democrats and Republicans interested in this idea because it preserves jobs, saves businesses and farms, while giving the government the same revenue.” ASSET provided a handout that explained the proposal and outlined the economic benefits.
In closing the meeting, Rep. Roskam (R-IL) talked about three key factors in tax reform that Ways & Means members were instructed on by Chairman Dave Camp before they started the process 1. The tax code is a mess 2. Ways & Means is the committee of jurisdiction and 3. Tax reform cannot be reformed on a partisan basis. He believes it is possible for comprehensive reform that is bicameral and bipartisan.
ASSET founder Jack Fitzgerald has been aggressively reaching out to stakeholders and trade associations to build the coalition as the tax reform process moves forward in order to assure the estate tax is also addressed. In their recent submission to the House Ways & Means tax reform working groups ASSET outlined a process to immediately remedy the harmful effects of the estate tax that were included in a report to the Joint Committee on Taxation.