WASHINGTON – Yesterday, U.S. Senator Tommy Tuberville (R-AL) joined U.S. Senator John Thune (R-SD) in reintroducing legislation that would permanently repeal the federal estate tax, commonly known as the death tax. The Death Tax Repeal Act would end this purely punitive tax that can hit family-run farms, ranches, and businesses as the result of the owner’s death. Sen. Tuberville has helped introduce this legislation in both the 117th and 118th congresses.
“The Death Tax destroys American jobs by stifling profitable businesses that employ hardworking Americans,” said Senator Tuberville. “Our government should be focused on creating an economic environment that preserves small businesses and family farms, instead of taxing them out of operation. I will keep pushing for policies that incentivize our next generation of farmers and business owners, so that we can continue to rely on their contributions for a strong economy.”
“Family farms and ranches play a vital role in our economy and are the lifeblood of rural communities in South Dakota,” said Senator Thune. “Losing even one of them to the death tax is one too many. It’s time to put an end to this punishing, burdensome tax once and for all so that family farms, ranches and small businesses can grow and thrive without costly estate planning or massive tax burdens that can threaten their viability.”
Senators Tuberville and Thune are joined by U.S. Sens. Jim Banks (R-IN), John Barrasso (R-WY), Marsha Blackburn (R-TN), John Boozman (R-AR), Katie Britt (R-AL), Ted Budd (R-NC), Shelley Moore Capito (R-WV), John Cornyn (R-TX), Tom Cotton (R-AR), Kevin Cramer (R-ND), Mike Crapo (R-ID), Ted Cruz (R-TX), John Curtis (R-UT), Steve Daines (R-MT), Joni Ernst (R-IA), Deb Fischer (R-NE), Lindsey Graham (R-SC), Chuck Grassley (R-IA), Bill Hagerty (R-TN), Josh Hawley (R-MO), John Hoeven (R-ND), Cindy Hyde-Smith (R-MS), Ron Johnson (R-WI), Jim Justice (R-WV), John Kennedy (R-LA), James Lankford (R-OK), Mike Lee (R-UT), Cynthia Lummis (R-WY), Roger Marshall (R-KS), Mitch McConnell (R-KY), Dave McCormick (R-PA), Jerry Moran (R-KS), Bernie Moreno (R-OH), Markwayne Mullin (R-OK), Pete Ricketts (R-NE), Jim Risch (R-ID), Mike Rounds (R-SD), Eric Schmitt (R-MO), Rick Scott (R-FL), Tim Scott (R-SC), Tim Sheehy (R-MT), Thom Tillis (R-NC), Roger Wicker (R-MS), and Todd Young (R-IN) in cosponsoring the legislation.
Companion legislation was introduced in the U.S. House of Representatives by Rep. Randy Feenstra (R-IA-04).
Read full text of the legislation here.
BACKGROUND:
The Senate attempted to repeal the estate tax while Congress considered the Tax Cuts and Jobs Act (TCJA) in 2017. Although the final version of the TCJA did not repeal the death tax, the law effectively doubled the individual estate and gift tax exclusion to $10 million (approximately $13.9 million in 2025 dollars) through 2025, which prevents more families and generationally owned businesses from being affected by this tax. The increased exclusion expires at the end of 2025, which increases uncertainty and planning costs for family-owned businesses, farms, and ranches.
MORE:
ICYMI: Tuberville in Yellowhammer News: “Protect family farmers by repealing the death tax”
Tuberville Pushes to Permanently Repeal the Death Tax
Tuberville Joins Effort to Permanently Repeal the Death Tax
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP, and Aging Committees.
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