Statement of Attorney General Bob McDonnell on Elimination of Virginia Estate Tax

Contact: J. Tucker Martin or David Clementson
Phone: 804-786-2071

For Release: August 28, 2006

"Today, the General Assembly voted to eliminate the Virginia estate tax, also known as the death tax. This is a victory for our free-market economy, and all those who played a role in the passage of this important legislation deserve congratulations. As a member of the General Assembly, I was the Co-Chief Sponsor of this legislation for several years, along with Delegate Bob Tata. I urged passage of this legislation because the death tax inhibits wealth creation, limits free enterprise and entrepreneurship, and hurts the economy. When we reduce taxation and regulation we benefit the economy of the Commonwealth, and we free the citizens of this state to create the jobs and opportunities that make Virginia the best place in the nation to do business."