Senator Cornyn refuses to close tax loopholes that give unfair advantage!

U.S. Senate Roll Call Votes 110th Congress - 2nd Session, Vote #76

Senator Cornyn voted nay on an amendment that would protect family businesses and farmers without increasing our nation's debt by providing for an estate tax that sets the exemption at $5 million and the rate at 35 percent, with the benefits of the exemption recaptured for estates over $100 million, paid for by closing tax loopholes that allow offshore deferral of compensation and transactions entered into solely for the purpose of avoiding taxation.

Senator Cornyn obviously believes that $5 million dollar businesses or farm that are passed on to children are too small to be viable. He also obviously wishes that the exemption be continued for businesses and farms in excess of $100 million. He does not want to close protect family businesses and farmers without increasing our nation's debt by providing for an estate tax that sets the exemption at $5 million and the rate at 35 percent, with the benefits of the exemption recaptured for estates over $100 million, paid for by closing tax loopholes that allow offshore deferral of compensation and transactions entered into solely for the purpose of avoiding taxation.

Does Texas or the nation have that many family farms or business that are in excess of $100 million but are still partnerships or sole proprietorships?
Is Senator Cornyn in real touch with the people he represents?

Information on the vote can be found at http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=110&session=2&vote=00076