Congressman Boswell continues to vote for San Francisco values, not Iowa values.
Congressman Boswell co-sponsored and voted with Nancy Pelosi and the liberal leadership in Congress last week (December 3, HR 4154) to permanently extend the Death Tax, and once again harm Iowa families and Iowa small businesses. Boswell’s vote hits families with a permanent tax up to 45% on any holdings over $3.5 million upon the holder’s death.
“From my years of working directly with family farmers and small business people, this law hurts them. We need to help Iowa family farms and small businesses grow and prosper, not be burdened by ridiculous, oppressive taxes,” said Jim Gibbons.
Under this burdensome law, Iowans are forced to purchase expensive life insurance policies to pay the proceeds to the federal government to cover this tax. If families do not do that, many lose their family farm or small business because they are forced to sell the asset to pay the federal government.
Gibbons continued, “An average Iowa small farm with only 600 acres will be targeted and harmed by Congressman Boswell’s vote for this tax. We need a congressman that works to protect family farms and small businesses so they can be passed from generation to generation without losing their operation to the federal government because of this oppressive tax.”
True to form, Boswell released a statement following his vote that said, “Today, I voted to protect Iowa families who are depending on their children and grandchildren to someday take over their small farms and businesses.” (Boswell press release, December 3, 2009, www.IowaPolitics.com)
Gibbons added, “Iowans are tired of double-talk. This bill will hurt family farms and small businesses, not protect them. Unfortunately, again, Congressman Boswell’s rhetoric does not match reality.”
The bill was passed 225-200, with 26 Democrats and 174 Republicans voting no.
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