Bill Would Permanently Repeal Death Tax
U.S. Senator Steve Daines joined Majority Leader John Thune (R-S.D.) and 44 Senate colleagues in reintroducing the “Death Tax Repeal Act.” The bill would permanently repeal the federal estate tax, a punitive tax that threatens Montana farms, ranches and businesses.
“When Montanans lose a loved one, the last thing they need to worry about is what will happen to their family farm or ranch,” said Daines. “I’m glad to join this effort to protect Montanans from this unfair and unnecessary tax.”
Read the full text of the bill HERE.
The bill is supported by more than 190 members of the Family Business Coalition and more than 105 members of the Family Business Estate Tax Coalition, which includes the National Federation of Independent Business, the National Restaurant Association, the National Association of Home Builders and the U.S. Chamber of Commerce.
Background:
In December of 2017, Daines voted for the Tax Cuts and Jobs Act which returned over $700 million to Montana families and doubled the exemption from the estate tax to $10 million for individuals and $20 million for families.
Daines is now working to make the provisions in the 2017 Tax Cuts and Jobs Act permanent. Last week, he sent a letter to President Trump vowing to oppose any short-term tax bill.