U.S. SENATE —U.S. Senator Steve Daines reintroduced legislation to permanently repeal the federal estate tax, more commonly known as the death tax.
The Death Tax Repeal Act of 2017, which would finally end this purely punitive tax that has the potential to hit family farms, ranches, and businesses as the result of the owner’s death.
“The Death Tax is a direct threat to our state’s number one economic driver,” Daines stated. “Montana family farms — many of which have been passed down from generation to generation crumble under the weight of this federal theft.”
The bill is supported by the American Farm Bureau Federation, Associated Builders and Contractors, National Association of Manufacturers, National Federation of Independent Business, Americans for Tax Reform, Club for Growth, National Black Chamber of Commerce, International Franchise Association, National Taxpayers Union, Family Business Coalition, the Family Business Estate Tax Coalition, and many others.
The bill is also sponsored by U.S. Senator John Thune (R-S.D.), U.S. Sens. Lamar Alexander (R-Tenn.), John Barrasso (R-Wyo.), Roy Blunt (R-Mo.), John Boozman (R-Ark.), Thad Cochran (R-Miss.), John Cornyn (R-Texas), Mike Crapo (R-Idaho), Ted Cruz (R-Texas), Mike Enzi (R-Wyo.), Joni Ernst (R-Iowa), Deb Fischer (R-Neb.), Cory Gardner (R-Colo.), Chuck Grassley (R-Iowa), Dean Heller (R-Nev.), John Hoeven (R-N.D.), Jim Inhofe (R-Okla.), Johnny Isakson (R-Ga.), Mike Lee (R-Utah), Mitch McConnell (R-Ky.), Jerry Moran (R-Kan.), Pat Roberts (R-Kan.), Mike Rounds (R-S.D.), Tim Scott (R-S.C.), Richard Shelby (R-Ala.), and Thom Tillis (R-N.C.).