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Repealing the estate tax won't create jobs, it won't boost GDP, and it won't add efficiency to the market. Instead, repealing the estate tax will simply add to the debt, hurt our ability to build a stronger economy and worsen economic inequality.

We're going to have a tax cut. Today's American family is overtaxed at all levels.

It is day after day in this institution, borrow money, run up the debt, run up the deficits and then with a straight face say, we are going to repeal a tax that affects 1 percent of the American people, just 1 percent of the American people.

We need to end permanently the tax that punishes American values of savings and investment and of building small businesses and family farms and ranches.

If I could wave a magic wand, we would eliminate income tax; we would eliminate corporate tax. We would abolish the IRS, and we could replace all of it with one federal consumption tax.

Our current tax system is broken.

The death tax should be completely and permanently repealed now in order to make the Tax Code fairer and simpler and to eliminate the harmful drag this tax has on the economy.

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.