National Council of La Raza: NEW NCLR WHITE PAPER CONCLUDES THAT ESTATE TAX REPEAL WOULD HARM LATINOS

“As millions of Americans filed their income tax this week, a new white paper issued by the National Council of La Raza (NCLR), the largest national Hispanic civil rights and advocacy organization in the U.S., concludes that repeal of the estate tax would exacerbate the wealth gap between Latinos and other Americans and reduce the amount of revenue available for the community’s key policy priorities. The paper, Undercutting the American Dream: Estate Tax Repeal Would Harm Latinos, examines how the estate tax works and its effects on taxpayers, the budget, and charitable giving.

“As one of the fastest-growing groups of taxpayers in the country, Latinos have a vested interest in a fair and equitable tax system. We have grave concerns about a proposal that cuts services to the most vulnerable in our society while providing more tax relief to those in the highest income brackets,” said NCLR President and CEO Janet Murguí.

The paper notes that, contrary to public perceptions, the estate tax applies only to a small number of families; however, it does help to alleviate imbalances in the current tax system. The estate tax helps to diminish wealth disparities among Americans by providing additional revenue for federal budget programs. “The bottom line is that less federal revenue means less money for key priorities such as education, health care, and asset development programs,” noted Murguí.”

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