Rep. Carol Miller, U.S. Representative for West Virginia 1st District | Official U.S. House headshot
Rep. Carol Miller, U.S. Representative for West Virginia 1st District | Official U.S. House headshot
WASHINGTON, D.C. - Today, Congresswoman Carol Miller (R-WV) and Congressman Randy Feenstra (R-IA) have introduced the Death Tax Repeal Act, a bill aimed at repealing the death tax imposed on families and small businesses regarding the transfer of property, land, and assets of a deceased family member. The bill has gained support from 161 of their colleagues in Congress.
"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. She emphasized the importance of this legislation in allowing multigenerational businesses to continue supporting their families without being burdened by a devastating tax upon the death of a family member.
Congressman Feenstra also expressed his support for the bill, stating, "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." He further highlighted the significance of permanently repealing the death tax to ensure that hardworking families, farmers, and small businesses can keep more of their hard-earned money and strengthen family-owned-and-operated enterprises in Iowa.
The Death Tax Repeal Act aims to provide relief to small businesses across the country, which are the bedrock of the United States. By eliminating the death tax, these businesses will have the opportunity to succeed and carry on the legacy of their families. The bill also seeks to encourage the next generation of farmers and business owners to establish their roots in rural areas, support main streets, and contribute to the economy.
The introduction of the Death Tax Repeal Act is a significant step towards relieving the burden of the death tax on families and small businesses. It is expected that the bill will gain support in Congress as it addresses the concerns and challenges faced by individuals and families during the difficult time of mourning the loss of a loved one while ensuring the continuity of their businesses.
For more information on the Death Tax Repeal Act and to access the bill text, please click [HERE](link to bill text).
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