Congresswoman Kay Granger, Texas-12, recently issued the following statement after joining Rep. Kevin Brady, Texas-8, as a co-sponsor on the Death Tax Repeal Act of 2013.
“The American Dream has long promised that no matter how you got your start, you can build a future in America that can be passed from one generation to the next,” Granger said. “Sadly, the death tax unnecessarily penalizes those who wish to pass on what they’ve worked so hard for and sends the IRS after hard-working families in their time of greatest grief. Already, more than 70 percent of family businesses and farms don’t survive a second generation. The death tax only makes it more difficult for these family legacies to succeed. It should be fully and permanently repealed.”
Sen. John Thune, R-S.D., and Brady introduced the Death Tax Repeal Act of 2013 (S. 1183, H.R. 2429) on June 19 to end this “punitive tax” on family farms, ranches and businesses upon the death of an owner. The bill is nearly identical to legislation introduced in the 112th Congress that garnered the bipartisan support of 223 representatives and 38 senators.