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Barrasso, Lummis Join Effort to Permanently Repeal the Death Tax
Published
2 years agoon
By
Ron Richter
U.S. Senators John Barrasso and Cynthia Lummis, (both R-WY), recently joined U.S. Senator John Thune (R-S.D.) and their Republican colleagues in reintroducing legislation to permanently repeal the federal estate tax, known as the death tax. The Death Tax Repeal Act would end a purely punitive tax that has the potential to hit family-run farms, ranches and small businesses as a result of the owner’s death.
Senator Lummis said Wyoming ranchers are disproportionately impacted by this tax, and it makes it harder to pass down the legacy of family ranching to future generations and in order to protect the Wyoming way of life, this burdensome tax needs to be eliminated.
Senator Barrasso said many family-run ranches, farms and small businesses are passed on from generation to generation, and too many families have to make the tragic decision to give up generations of hard work just to pay the death tax. A copy of the bill can be found here.
Harriet Oleson
April 6, 2023 at 9:17 am
TOTALLY UNFAIR!! that heirs have to pay taxes on years of work and sweat by preceding generations of their own family. TOTALLY UNFAIR!!!! that families have to Sell Family land {owned for generations} to pay those taxes. Thank You Senators.
Shelly Morris
April 6, 2023 at 11:45 am
I am a business owner in Wyoming and I pray the death tax is eliminated.
I hope to pass the money from my business on to family members someday, not
throw away everything I’ve built just to pay taxes!
Dennis Fox
April 6, 2023 at 12:02 pm
The death tax is double-taxation and should be banished from our tax code forever. It’s both unconstitutional and socialistic. You pay taxes all your working life, then the fedgov hits you again when you die. Totally wrong. Well done senators! And it’s nice to see agreement across the political spectrum on the evil of high taxes. Hope this knowledge carries over, the next time we get to vote on lowering our sales tax to 5%!
Dennis Fox
April 7, 2023 at 10:58 am
Lower Taxes are always better.
Dennis Fox
April 7, 2023 at 11:38 am
Now, if we could just get Congress, to Abolish the IRS, we could restore the Founders intent of a free republic. The US Constitution specifically prohibits any type of Capitation or Direct Tax; which is what an “income” tax is. When the Fedgov can reach across the country and tax you directly; it is in violation of the Founders Intent of limited government. Think about that, as you write your annual “tribute check” to the Swamp in DC!