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House Co-Sponsorship Memoranda
House of Representatives
Session of 2013 - 2014
Regular Session
MEMORANDUM
| Posted: | December 10, 2012 03:43 PM |
|---|---|
| From: | Representative Neal P. Goodman |
| To: | All House members |
| Subject: | Inheritance Tax Repeal |
| In the near future, I will be re-introducing legislation to repeal the Inheritance Tax effective July 1, 2013. The repeal would apply to the estates of decedents dying on or after July 1, 2013. This legislation is identical to House Bill 1464 of the 2011-12 Legislative Session. The Inheritance Tax has long been considered unfair by people of all income levels. The loss of a loved one takes an emotional toll on a family and can also take a heavy financial toll. The state’s inheritance tax presents an additional burden at a particularly difficult time for many. It is also a double tax - it taxes property that was already taxed when the individual was still living. Finally, reform of the state’s inheritance tax has long been touted as a way to support jobs and benefit the economy. Repealing the financial burden of this tax on heirs will keep more money in the hands of Pennsylvanians. Given the fragile economic recovery, now is the time to address this burdensome and unfair tax. |
Introduced as HB415