Republicans seek to repeal the federal death tax
Feenstra said that the program is an unfair tax “on the transfer of property, land, and other assets from a deceased family member to heirs of family farms and small businesses.”
President Donald Trump hiked the federal estate tax exemption considerably with the Tax Cuts and Jobs Act passed during his first term, as well as implemented inflationary adjustments. File Image.
Representative Randy Feenstra, a Republican from Iowa, announced legislation that would “permanently repeal the death tax,” contending that the levy on inheritance is deeply unfair.
The estate tax, often called the death tax, is imposed on part of an estate owned by a deceased person. Feenstra said that the program is an unfair tax “on the transfer of property, land, and other assets from a deceased family member to heirs of family farms and small businesses.”
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