AK HR7

Requests United States Congress to permanently repeal the federal unified gift and estate tax effective immediately

Argues the estate tax generates minimal federal revenue relative to collection and compliance costs and harms small businesses and minority entrepreneurs

Contends the tax causes forced liquidation of family businesses and constitutes double taxation on assets acquired with after-tax dollars

Cites concern that the tax is scheduled to expire in 2010 but revert to a 55 percent rate in 2011, creating uncertainty that prevents families and businesses from planning

Directs copies of the resolution to be sent to President Obama, Vice President Biden, Speaker Pelosi, Treasury Secretary Geithner, and Alaska's congressional delegation