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April 4, 2001
(House)


H.R. 8 - Death Tax Elimination Act of 2001
(Rep. Dunn (R) Washington and 222 cosponsors)

The Administration supports House passage of H.R.8 as another positive step on the way to passage of the President's tax relief plan. H.R. 8 is consistent with the objectives of the President's tax relief plan, which lowers the tax burden on families, small businesses, and family farms and promotes fairness and economic growth by phasing out and eliminating the unfair death tax that results in the double taxation of a family's hard-earned assets. The Administration looks forward to working with Congress to achieve a result that best embodies the objectives of the President's plan.

Pay-As-You-Go Scoring

Any law that would reduce receipts is subject to the pay-as-you-go requirements of the Balanced Budget and Emergency Deficit Control Act. Accordingly, H.R. 8, or any substitute amendment in lieu thereof that would also reduce revenues, will be subject to the pay-as-you-go requirement. The Administration will work with Congress to ensure that any unintended sequester of spending does not occur under current law or the enactment of any other proposals that meet the President's objectives.