March 11, 2021
WASHINGTON – This week, U.S. Senator Roy Blunt (Mo.), a member of the Senate Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies, joined U.S. Senator John Thune (S.D.) and 24 other senators to reintroduce legislation permanently eliminating the devastating federal death tax on family farms, ranches, and small businesses.
“The death tax disproportionately hurts states like Missouri, where agriculture is a top driver of economic growth,” said Blunt. “By repealing this crushing tax, we will help parents pass farms and businesses along to their children and grandchildren instead of forcing them to sell off the land in order to pay a tax bill.”
In addition to Blunt and Thune, the bill is cosponsored by U.S. Senators 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.), Chuck Grassley (Iowa), John Hoeven (N.D.), James Inhofe (Okla.), John Kennedy (La.), Roger Marshall (Kan.), Mitch McConnell (Ky.), Jerry Moran (Kan.), Jim Risch (Idaho), Mike Rounds (S.D.), Marco Rubio (Fla.), Rick Scott (Fla.), Richard Shelby (Ala.), and Roger Wicker (Miss.).
Missouri has almost 100,000 individual farms – the second highest number of farms of any state in the nation. Blunt has supported previous efforts in Congress to repeal the death tax.
The legislation is supported by the American Farm Bureau Federation, the National Cattlemen’s Beef Association, the National Federation of Independent Business, the National Association of Manufacturers, the Family Business Coalition, the Family Business Estate Tax Coalition, the Policy and Taxation Group, the Associated General Contractors of America, the National Taxpayers Union, and many others.
Companion legislation was introduced in the House by U.S. Representative Jason Smith (Mo.).