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Tuesday, March 31, 2009
Pelosi Statement on the Ted Kennedy Serve America Act
Comtex
WASHINGTON, March 31, 2009 /PRNewswire-USNewswire via COMTEX/ ----Speaker Nancy Pelosi issued the following statement today after the House passed the Edward M. Kennedy Serve America Act by a vote of 275 to 149. The Senate passed the act, formerly called the GIVE Act, last week and it now goes to President Obama for his signature into law.
"Just one month ago, in his address to Congress, President Obama called upon Congress to pass legislation 'to encourage a renewed spirit of national service for this and future generations.' Today, The Edward M. Kennedy Serve America Act is on its way to his desk to become law. I congratulate Chairman George Miller for crafting this bipartisan legislation and for his commitment to getting it passed quickly.
"In times of great challenge, Americans always rise to the occasion. In these times, our economy, our health care system, and our schools need the help of the generous Americans who are willing to serve. And in so doing, our volunteers will save lives, heal disease, and create brighter futures for our children.
"By creating 175,000 new service opportunities - more than tripling the number of volunteers nationwide, and rewarding those who volunteer with real investments in their education, we are launching a new era of service. This new era of service will create a stronger nation for all Americans."
SOURCE Office of the Speaker of the House
Copyright (C) 2009 PR Newswire. All rights reserved
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As the cliché goes, there are only two certainties in life: death and taxes. But, they're intertwined. When you go to the great beyond, the government generally wants its cut, which is just under half the size of your estate, provided it reaches a certain size. Yep: The government can be your biggest heir, whether you like it or not.
Every few years, the estate tax, also known as the death tax, flares up as an issue. On the one side, politicians say people with large estates should redistribute some of that wealth to the common good by giving it back to government coffers. Critics, though, charge that the government has no right to money accumulated--and, more importantly, taxed already--throughout a person's life.
It can make for some strange political bedfellows. Billionaires like Warren Buffett and Bill Gates are actually in favor of higher estate tax rates, even though they have the most to lose from it. On the other hand, several minority groups have pushed for a reduction in estate-tax rates, since it makes passing on neighborhood small businesses to their families financially prohibitive.