The Virginia Senate today advanced tax relief for Virginia's family farmers and small business owners by endorsing legislation calling for the full repeal of the state death tax effective July 1, 2007.

SB 5019, the bill repealing the death tax, passed the Senate by an overwhelming bi-partisan vote of 24-9. This once again illustrates the bipartisan support repeal of the death tax has generated. Democrat Governor Tim Kaine has endorsed repeal of the death tax and 93 of 100 members of the House voted to repeal the unfair tax earlier this year.

We greatly appreciate the Senate's action to provide considerable relief to thousands of farmers and small businesses statewide.

Moving forward, the House of Delegates will likely introduce a companion bill to repeal the death tax and should vote on the matter tomorrow.

We expect final passage by the House and Senate will likely occur next week. At that point, Governor Kaine will have a bill that he can sign.

The Senate also voted unanimously today to accept the conference report on the state's biennial budget. The measure will now be considered by the House of Delegates when they convene tomorrow.

Please take the time to thank your Senator for voting favorably for legislation that fully repeals Virginia's death tax. Please let your Senator know that you appreciate their efforts in protecting small businesses and family farms. To find your Senator and to send an email, click here.

Note: Senators Norment and Stolle have always supported repeal of the death tax. However, due to language included in the bill concerning issues unrelated to the death tax, they both had to abstain. We appreciate their past and continued - support for repeal of the death tax.

The House of Delegates will likely address death tax repeal tomorrow, following their consideration and vote on the state's biennial budget. The House has consistently supported full repeal of the death tax every year since 2003. Governor Kaine has talked about his support for full repeal of the death tax since November 2004. Once both chambers have voted favorably on death tax repeal and the legislation is communicated to the Governor, he will have seven days to act. We anticipate votes on final passage will occur next week and hope the Governor will sign the bills by early July.
Please express your support for death tax repeal to your Delegate and Governor Kaine, and let them know you appreciate their past support. Now is the time to act contact them both by clicking here.

Senate OKs budget compromise with estate tax repeal

By Bob Lewis

Associated Press