Washington, D.C.— Senators Mike Enzi, John Barrasso, both R-Wyo., joined Senator John Thune, R-S.D. and Representative Kevin Brady, R-Texas, to re-introduce legislation yesterday to permanently repeal the federal estate tax, better known as the death tax.
Enzi and Barrasso said the bill would permanently abolish the tax on family farms, ranches, and businesses. The senators believe a family’s assets, sometimes built up over generations, should be left in the hands of the family and will be put to better use there in the local community than shipped off to a wasteful Washington.
Thune and Brady are the main sponsors of the bill. At its introduction in the Senate, the bill had 26 cosponsors in addition to Enzi and Barrasso. Brady has 11 cosponsors so far in the House.
The Death Tax Repeal Act of 2013 (S. 1183, H.R. 2429), is nearly identical to legislation introduced in the 112th Congress that garnered the bipartisan support of 223 Representatives and 38 Senators.
This year’s death tax repeal bill is supported by the American Farm Bureau Federation, Associated Builders and Contractors, National Association of Manufacturers, National Federation of Independent Business, 60 Plus Association, Americans for Tax Reform, Club for Growth, National Black Chamber of Commerce, International Franchise Association, National Taxpayers Union, American Conservative Union, Family Business Coalition, and many others.