WASHINGTON— Today, Idaho Congressman Mike Simpson cosponsored the Death Tax Repeal Act of 2023. This bill would permanently repeal the unfair death tax, providing relief to family-owned businesses, farms, and ranches from being hit by the hefty tax that occurs on the transfer of property or other assets from a deceased family member.  

This legislation is led by Rep. Feenstra (R-IA) with support from 162 cosponsors in the House of Representatives. This legislation is also supported by 194 organizations.   

“The unfair Death Tax crushes Idaho family farms, ranches, and businesses,” said Rep. Simpson, an original cosponsor. “Repealing this burdensome estate tax will drive job creation, grow the economy, and shield families from this unfair high tax burden that results from the loss of a loved one. Families across Idaho who have worked hard to build up a successful farm or small business should not be punished by our tax code. I am proud to cosponsor this legislation and protect Idahoans from outrageous tax hikes.” 

“The death tax represents double taxation at its worst. Iowa families grieving the loss of a loved one should not face an enormous tax bill from the federal government just to continue the family tradition of farming or keep their small business open and operational,” said Rep. Feenstra. “I’m proud to lead 162 of my colleagues to permanently repeal the death tax, ensure that hardworking families, farmers, and small businesses keep more of their hard-earned money, and strengthen family-owned-and-operated enterprises in Iowa. By fully eliminating the death tax, we can keep China away from our farmland, allow family farms and small businesses to succeed, and encourage the next generation of Iowa farmers and business owners to plant their roots in rural Iowa, support our main streets, and contribute to our economy.” 

The full text of the legislation is available here.