Rep. LaMalfa Leads Coalition Urging Death Tax Repeal Vote
Washington, DC – Rep. Doug LaMalfa (R-CA) was joined by Reps. Noem (R-SD) and Duffy (R-WI) in leading a coalition of 30 lawmakers urging the House leadership to schedule a vote on a measure repealing the federal death tax. H.R. 2429, cosponsored by 236 bipartisan members of the House, would repeal federal taxes imposed on deceased Americans. The 40% taxation rate of the federal death tax heavily impacts small businesses and family farms that may have assets in the form of equipment or land, but little actual cash. The death tax directly results in the dissolution of small businesses and family farms by imposing ruinous taxes on beneficiaries.
“Repealing the death tax should be a key component of our efforts to protect small businesses and family farms from ruinous taxes. The concept that the government is entitled to 40% of one’s life’s work is counter to the very ideals of private property our nation was founded upon,” said LaMalfa. “Rolling back the punitive death tax will ensure that the legacy of small business owners and job creators is not destroyed simply because their lives have ended.”
Doug LaMalfa is a lifelong farmer representing California’s First Congressional District, including Butte, Glenn, Lassen, Modoc, Nevada, Placer, Plumas, Shasta, Sierra, Siskiyou and Tehama Counties.