News
Death Tax repeal legislation introduced
Bipartisan legislation has been reintroduced into the House and Senate that would permanently repeal the federal estate tax. Representatives Kristi Noem of South Dakota and Sanford Bishop of Georgia introduced the legislation in the House and Senator John Thune introduced the companion bill in the Senate.
A Joint Economic Committee report shows the death tax has removed more than $1.1 trillion in capital from the economy.
Congresswoman Noem says following her father’s tragic death in a farming accident her family received a letter from the IRS and no family should have to go through a similar situation.
Representative Bishop has worked to repeal the controversial tax to prevent farmers from losing their family farms or being forced to sell land, buildings, or equipment to pay their tax bill.
American Farm Bureau, the nation’s largest farmer organization supports the bill. AFBF president Zippy Duvall says the repeal of the estate tax offers the best solution to protect farms, ranches, and family-owned businesses.
This is great news. Hope it passes. Will be calling my Congress & Senate Reps to ask that they vote for this bill.