U.S. Representative John Rose joined Rep. Randy Feenstra (R-IA) and 161 Members of the U.S. House of Representatives in introducing the Death Tax Repeal Act. This legislation would permanently repeal the death tax, which imposes an unfair and costly tax on the transfer of property, land, and other assets from a deceased family member to heirs of family farms and small businesses.
Rep. Rose was a member of the Tennesseans Against the Death Tax group that spearheaded the successful effort to vanquish the inheritance tax in Tennessee in 2015. Now, he’s looking to take Tennessee values to Washington by ending the Death Tax nationally.
Over 99% of our country’s two million farms and ranches and over 95% of our nation’s small businesses are owned and operated by individuals and families, and this legislation would enable these multigenerational businesses to continue to support their families without having to pay a devastating tax upon the death of a family member. The Death Tax Repeal Act enjoys support from 194 organizations.
Rep. Rose released the following statement:
“Tennessee can always teach Washington a thing or two, and this is a prime example,” said Rep. Rose. “Farm families should be able to pass their family farms to the next generation without the heavy burden of the Death Tax. We repealed it in Tennessee, and it’s time we repeal it nationally. That’s why I am proud to support this legislation to axe the Death Tax once and for all.”