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Blunt Backs Legislation to Permanently Repeal the Death Tax

January 29, 2019

WASHINGTON – Today, U.S. Senator Roy Blunt (Mo.) announced that he has cosponsored legislation to permanently eliminate the devastating federal estate tax on family farms, ranches, and small businesses.

“The death tax disproportionately hurts states like Missouri where agriculture is a top economic driver,” said Blunt. “By repealing the death tax altogether, this bill will help family farms and businesses plan for the future and prevent them from being penalized as they transition from one generation to the next.”

Although the Tax Cuts and Jobs Act did not repeal the death tax, it doubled the individual estate and gift tax exclusion to $10 million ($11.4 million in 2019 dollars) through 2025, which will prevent more families from being affected by this tax. 

The Death Tax Repeal Act of 2019 was introduced by U.S. Senator John Thune (S.D.) yesterday. In addition to Blunt, the bill is cosponsored by U.S. Senators Lamar Alexander (Tenn.), John Barrasso (Wyo.), Marsha Blackburn (Tenn.), John Boozman (Ark.), John Cornyn (Texas), Tom Cotton (Ark.), Kevin Cramer (N.D.), Mike Crapo (Idaho), Ted Cruz (Texas),  Steve Daines (Mont.), Joni Ernst (Iowa), Deb Fischer (Neb.), Cory Gardner (Colo.), Chuck Grassley (Iowa), John Hoeven (N.D.), Cindy Hyde-Smith (Miss.), James Inhofe (Okla.), Johnny Isakson (Ga.), John Kennedy (La.), Mitch McConnell (Ky.), Jerry Moran (Kan.), David Perdue (Ga.), Jim Risch (Idaho), Pat Roberts (Kan.), Mike Rounds (S.D.), Marco Rubio (Fla.), and Todd Young (Ind.).

The bill is supported by the American Farm Bureau Federation, the National Cattlemen’s Beef Association, NFIB, the Associated General Contractors of America, the Family Business Estate Tax Coalition, Policy and Taxation Group, the National Association of Manufacturers, and many others.   




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