East Idaho Times

Idaho Congressman Mike Simpson has announced his support for the Death Tax Repeal Act, a bill that seeks to permanently abolish the estate tax affecting family-owned businesses, farms, and ranches. The legislation is spearheaded by Representative Feenstra from Iowa and has garnered backing from over 170 cosponsors in the House of Representatives as well as more than 230 organizations.

Rep. Simpson emphasized the negative impact of the current tax on Idaho's agricultural sector, stating, “The punishing and burdensome death tax has crushed Idaho family farms, ranches, and small businesses for too long." He expressed his commitment to aiding local economies by saying, "Repealing the death tax will assist farmers, ranchers, small business owners, and grandparents who have worked their whole lives to pass something on from generation to generation."

Rep. Feenstra also criticized the existing tax structure: “The death tax is an egregious double tax that unfairly targets American family farms and small businesses and directly threatens long-held farming traditions in rural Iowa and across the country." He introduced this legislation with the aim of eliminating what he sees as an unjust financial burden on grieving families.

In parallel efforts within Congress, U.S. Senate Majority Leader John Thune has put forward companion legislation in the Senate.

The proposed act aims to alleviate financial pressures on families during times of bereavement by allowing them to retain more assets without additional taxation. The complete text of this legislative proposal is available for public access.