MI SR0170

Memorializes the U.S. Congress to extend the moratorium on the federal estate tax beyond its scheduled 2011 expiration.

Contends that the estate tax disproportionately impacts small family-owned businesses and family farms, with estimates that 70 percent of family businesses do not survive to the second generation due to the tax.

States the estate tax violates principles of fair tax policy by taxing the same income twice and was temporarily phased out under 2001 tax relief legislation.

Argues that the estate tax's return would devastate Michigan's economy as it recovers from the great recession and auto industry collapse, and notes Michigan's inheritance taxes are tied to federal estate tax rates.

Directs copies of the resolution to be sent to the President of the U.S. Senate, Speaker of the U.S. House of Representatives, and Michigan's congressional delegation.