Masonry Magazine July 2007 Page. 24
LEGISLATIVE CONFERENCE
The Senate actually has had a similar pay-go rule in place since 1993, but the rule has been modified many times to accommodate tax break proposals and spending measures. The House measure likely will face similar revisions.
Moving on to the Estate Tax, Coffim touched upon an issue that is almost as close to the hearts and wallets of small business owners as the immigration issue. According to the MCAA, almost one-third of all small business owners will be forced to sell outright or liquidate a significant portion of their company to pay for this tax, which is often termed the "death tax." Coffim said that although the masonry industry would like to see the tax repealed, it is not feasible. She said that the rate, which can be as high as 55 percent of assets received, likely would stay at current levels. Part of the reason, she said, is the pay-go rules.
"Simplifying the tax code would mean taking away people's tax breaks, but there is still a lot that can be done," she said. However, with such a volatile issue, she emphasized that no political moves will be made until after the next presidential election. In the meantime, you can be sure that attendees voiced their concerns during their visits on Capitol Hill.
WIRE-BOND®'s Sure-Tie
Gets Right To The Point!
Sure-Tie quickly and accurately pierces insulation and/or wallboard to abut with steel studs in brick veneer applications.
* One-piece design provides superior strength.
* Sure-Tie has a #12-24 tapping thread 1" in length.
* Accommodates 1/2" and 5/8" wallboard and various thicknesses of 4' by 8' insulation sheets.
* Climaseal coating provides superior corrosion resistance.
* Adjustable triangle meets ACI 530 code requirements.
WIRE-BOND®
Innovation In Masonry Construction
1-800-849-6722
www.wirebond.com
Rep. James Clyburn
(D-SC)
HOUSE MAJORITY WHIP Clyburn was the first guest to speak before the Legislative Conference attendees on Wednesday, May 16. In addition to discussing current federal budget proposals and the differences in philosophies between the Republicans and Democrats Clyburn also focused on immigration. To him, immigration and to a larger extent the issue of shortages of skilled craftspersons in the construction industry-is an education issue. He said that there is a serious lack of proper education spending in the United States, particularly when it comes to vocational training. "Education has to refocus," Clyburn said. "It can't all be liberal arts.... It was a mistake to take the trades out of the education system."
Of course, this notion won resounding applause and whistles of approval from attendees, but the group promptly refocused and quizzed Clyburn on his stance about the Estate Tax. They asked him if Congress was going to try to eliminate the tax, to which he replied simply, "No." This tax and other revenue sources for the federal government, he said, are vital, referring to the taxes as "shared sacrifices." Although he admitted that the Estate Tax may have some unintended consequences - such as the burden it places on small businesses - Clyburn views the issue as a national security matter. He said that we, as a nation, ought to be able to pass on a country to our children, not just a business, referring to our continually