WASHINGTON – First District Congressman Paul Ryan today expressed disappointment at the failure of the House of Representatives to win the two-thirds majority vote necessary to override the President's veto of legislation that would repeal the estate tax, commonly known as the "death tax." The House vote was 274 – 157, with 274 Members of Congress, including Congressman Ryan, voting in favor of the veto override.

"It's discouraging that something of this importance comes down to the same old games," said Ryan. "Thirteen Democrats who voted to repeal the death tax in June switched their vote on today's override attempt, thus defeating a veto override. If some Members of Congress did not vote their conscience today, that's a terrible shame."

“The death tax is a clear-cut example of double taxation, something we can all agree is unfair," said Ryan. "When someone who has paid taxes all their life dies, the surviving family members could get stuck paying an additional tax of up to 55 percent on the property of the deceased, even though that person already spent years paying taxes on that very property."

"This is a missed opportunity to end a tax that's a job killer. The death tax doesn't just hurt those who must pay it. It can have a devastating effect on small businesses and their employees," noted Ryan. "According to the National Federation of Independent Business (NFIB), one-third of small-business owners today will have to sell outright or liquidate a part of their firms to pay estate taxes. Half of those who must liquidate to settle with the IRS will have to eliminate 30 or more jobs."

"Besides causing job losses, the tax depresses economic growth and expansion," Ryan added. "Sixty percent of small-business owners report that they would create new jobs over the coming year if estate taxes were eliminated. Clearly, the costs associated with this tax outweigh the benefits. It's disappointing that more House Members didn't support today's attempt to override the President's veto."