Ernst Pushes to Permanently Repeal the Federal Death Tax

WASHINGTON – U.S. Senator Joni Ernst (R-Iowa), Chair of the Senate Small Business and Entrepreneurship Committee and a member of the Senate Agriculture Committee, joined a bipartisan group of her colleagues in working to permanently repeal the federal estate tax, more commonly known as the death tax or inheritance tax.
TheDeath Tax Repeal Actwould end this purely punitive tax that has the potential to hit family-run farms and small businesses following the owner’s death. Companion legislation was introduced in the U.S. House of Representatives by Rep. Randy Feenstra (R-Iowa).
“Iowa farming families and entrepreneurs work for generations to establish farms and build small businesses that are essential to our state’s economy and rural communities,”said Senator Ernst.“They should not have to fear the loss of their livelihoods as they grieve a loved one. It’s time to eliminate this crippling tax burden and costly estate planning expenses once and for all.”
Background:
Ernst has been a strong opponent of the death tax, recognizing its burden on family-owned businesses, farms, and ranches. During the 2017Tax Cuts and Jobs Act(TCJA), she supported efforts to repeal the tax. While the TCJA did not fully eliminate the death tax, it did double the estate and gift tax exemption to $10 million through 2025, easing the impact on many families. TheDeath Tax Repeal Actwould provide permanent relief.
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