Last week, Congresswoman Carol Miller (R-WV) joined Congressman Randy Feenstra (R-IA) and 161 of their colleagues in introducing the Death Tax Repeal Act. This bill will repeal the death tax that is imposed on families and small businesses as regards to the transfer of property, land, and assets of a deceased family member.
Over 95% of our nation’s small businesses are owned and operated by individuals and families, and this legislation would enable these multi-generational businesses to continue to support their families without having to pay a devastating tax upon the death of a family member.
“The death tax is another unnecessary burden that West Virginians and small business owners have to worry about while mourning the death of a loved one and making sure their business remains operational,” said Congresswoman Miller. “The Death Tax Repeal Act will stop the unnecessary and cruel double taxation so small businesses across the country can succeed and carry on the legacy of their family. Small business owners are the bedrock of the United States and Congress must show them our support with the passage of this bill.”
“The death tax represents double taxation at its worst. Iowa families grieving the loss of a loved one should not face an enormous tax bill from the federal government just to continue the family tradition of farming or keep their small business open and operational,” said Congressman Feenstra. “I’m proud to lead 162 of my colleagues to permanently repeal the death tax, ensure that hardworking families, farmers, and small businesses keep more of their hard-earned money, and strengthen family-owned-and-operated enterprises in Iowa. By fully eliminating the death tax, we can keep China away from our farmland, allow family farms and small businesses to succeed, and encourage the next generation of Iowa farmers and business owners to plant their roots in rural Iowa, support our main streets, and contribute to our economy.”