What You Need To Know About The Death Tax Repeal Act

It's no secret that out-of-control government spending has led to a constant increase of taxes in the United States.

Every dollar we earn is taxed multiple times, and that money is taxed again when we die.

At some point, something has to give with our taxes here in America.

The good news is that 45 senators in the United States are finally working to correct one aspect of the out-of-control taxes.

Death Tax Repeal Act

In hopes of safeguarding Montana's agricultural and business communities, US Senator Steve Daines has recently joined forces with Majority Leader John Thune and 44 state senators to reintroduce the "Death Tax Repeal Act."

This legislation would permanently abolish Federal Estate Taxes.

Although this law impacts everybody, family farms, ranches, and businesses across Montana feel the pinch more than anybody else.

When Montanans lose a loved one, the last thing they need to worry about is what will happen to their family farm or ranch, said Daines. I’m glad to join this effort to protect Montanans from this unfair and unnecessary tax.

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RELATED READING: How Much Did Montana Make in Alcohol Taxes Last Year?

Bill Backing

This bill has gained widespread support and has been backed by numerous organizations.

Those organizations include...

• 90 members of the Family Business Coalition
• 105 members of the Family Business Estate Tax Coalition
• National Federation of Independent Business
• National Restaurant Association
• National Association of Home Builders
• U.S. Chamber of Commerce

READ NEXT: How MT’s Property Taxes Compare To The Nation