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The death tax should be completely and permanently repealed now in order to make the Tax Code fairer and simpler and to eliminate the harmful drag this tax has on the economy.

The death tax destroys family businesses and stifles investment that leads to increases in jobs and personal income. As a result, 70 percent of family-owned businesses are not passed on to the next generation and 87 percent do not make it to the third generation.

The bottom line is that the death tax is a tax on the economy because it slows economic growth.

Now is not the time to compromise on the economy. Instead, we should be doing everything in our power to support long-term economic growth. Permanent repeal of the death tax will mean more high-quality, high-paying jobs for Americans.

The death tax robs parents of the opportunity to pass something along to their children, and it is responsible for destroying a lot of family-owned businesses.

The death tax is one of the leading causes of the dissolution of small businesses.

The death tax causes one-third of all family-owned small businesses to liquidate after the death of the owner. It is also an unfair tax because the assets have already been taxed once at their income level.

When you raise taxes on small business, from 35% to 40%, you will kill jobs.

If we don't act now, the death tax will come back in just a few years. Under current law the death tax is phased out in 2010 but comes back in full force in 2011. That is a ridiculous and untenable policy.

Additionally, this tax forces family businesses to invest in Uncle Sam rather than the economy. When families are forced to repurchase businesses because of the death tax, that means less money is being invested in new jobs and capital expansion.