WASHINGTON, D.C. – U.S. Senator Shelley Moore Capito (R-W.Va.) joined 40 of her Senate colleagues – led by U.S. Senator John Thune (R-S.D.) – in reintroducing legislation to permanently repeal the federal estate tax, more commonly known as the death tax. The Death Tax Repeal Act would eliminate the tax that could harm family-run farms, ranches, and businesses as the result of the owner’s death.
“The federal death tax places an unfair burden on multigenerational small businesses, ranchers, and farmers across West Virginia. I’m proud to join my Republican colleagues to advocate that hard built businesses and legacies are able to be handed down to their children upon their passing without the threat of this tax. I supported the 2017 Tax Cuts and Jobs Act that doubled the death tax exclusion, and I will continue to support efforts that exempt more families from being subject to this tax,” Senator Capito said
In addition to Senators Capito and Thune, the legislation is cosponsored by U.S. Senators John Barrasso (R-Wyo.), Marsha Blackburn (R-Tenn.), John Boozman (R-Ark.), Mike Braun (R-Ind.), Katie Britt (R-Ala.), Ted Budd (R-N.C.), John Cornyn (R-Texas), Tom Cotton (R-Ark.), Kevin Cramer (R-N.D.), Mike Crapo (R-Idaho), Ted Cruz (R-Texas), Steve Daines (R-Mont.), Joni Ernst (R-Iowa), Deb Fischer (R-Neb.), Lindsay Graham (R-S.C.), Chuck Grassley (R-Iowa), Bill Hagerty (R-Tenn.), Josh Hawley (R-Mo.), John Hoeven (R-N.D.), Cindy Hyde-Smith (R-Miss.), Ron Johnson (R-Wis.), John Kennedy (R-La.), James Lankford (R-Okla.), Mike Lee (R-Utah), Cynthia Lummis (R-Wyo.), Roger Marshall (R-Kan.), Mitch McConnell (R-Ky.), Jerry Moran (R-Kan.), Markwayne Mullin (R-Okla.), Pete Ricketts (R-Neb.), Jim Risch (R-Idaho), Mike Rounds (R-S.D.), Marco Rubio (R-Fla.), Eric Schmitt (R-Mo.), Rick Scott (R-Fla.), Tim Scott (R-S.C.), Thom Tillis (R-N.C.), Tommy Tuberville (R-Ala.), and Roger Wicker (R-Miss.).
Full text of the legislation is available here.
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