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Paulsen Honored by Nonpartisan Senior Citizens Group for Supporting Small Businesses

WASHINGTON, D.C. – A national nonpartisan senior citizens group has recognized Congressman Erik Paulsen (MN-03) for his efforts to ensure small businesses and family farms are protected from the estate tax. Also known as the “death tax,” the estate tax is a tax on the value of a deceased individual’s assets before they are passed to their heirs.

Jim Martin, founder of The 60 Plus Association, said: “It was Ben Franklin who famously said there are two certainties in life, death and taxes, but because of the estate or ‘death’ tax, there is a third certainty – taxes after death. 60 Plus decided to give a Benjamin Franklin award to Congressman Paulsen for his leadership on this issue. If Congressman Paulsen has his way, we will get rid of that third certainty – taxes after death – and make Mr. Franklin’s famous quote accurate once again. Senior citizens know they can always depend on Congressman Paulsen to abolish this anti-farmer, anti-senior, anti-small business, confiscatory tax.” 

The Economic Growth and Tax Relief Reconciliation Act of 2001 repealed the estate tax on small business owners and family farms through the end of 2010. Without action before it expires, the tax rate will jump to 55%. According to a survey by the nonpartisan National Center for Policy Analysis, 51% of businesses would have significant difficulty surviving in the event of an owner's death.

The 60 Plus Association is a 17-year-old nonpartisan organization taking on important issues such as death tax repeal, saving Social Security, working to lower energy costs, affordable prescription drugs and other issues critical to senior citizens. 60 Plus calls on support from nearly 5.5 million citizen activists.