News Releases

Thursday, January 26, 2017

Isakson: Time to Kill the Death Tax

Reintroduces legislation to end punishing tax on family farms, ranches, small businesses 

WASHINGTON – U.S. Senator Johnny Isakson, R-Ga., reintroduced legislation this week to permanently repeal the federal estate tax, better known as the “death tax.”

Specifically, the Death Tax Repeal Act of 2017 would end this purely punitive tax that would otherwise hit family farms, ranches and small businesses as the result of the owner’s death.

“It’s time to kill the death tax,” said Isakson, a member of the tax-writing Senate Finance Committee. “It is well past time to permanently repeal this burdensome tax on families and small businesses while we work toward a complete overhaul of our broken tax code. That’s why I have continued to support this legislation during each new Congress.”

Isakson’s legislation is supported by the American Farm Bureau Federation, Americans for Tax Reform, Associated Builders and Contractors, Club for Growth, Family Business Coalition, Family Business Estate Tax Coalition, International Franchise Association, National Association of Manufacturers, National Black Chamber of Commerce, National Federation of Independent Business, National Taxpayers Union and many others.

The Death Tax Repeal Act of 2017 is led by U.S. Sen. John Thune, R-S.D., and in addition to Isakson, is also co-sponsored by U.S. Sens. Lamar Alexander, R-Tenn., John Barrasso, R-Wyo., Roy Blunt, R-Mo., John Boozman, R-Ark., Thad Cochran, R-Miss., Mike Crapo, R-Idaho, Ted Cruz, R-Texas, Steve Daines, R-Mont., Mike Enzi, R-Wyo., Joni Ernst, R-Iowa, Deb Fischer, R-Neb., Cory Gardner, R-Colo., Chuck Grassley, R-Iowa, Dean Heller, R-Nev., John Hoeven, R-N.D., Jim Inhofe, R-Okla., Mike Lee, R-Utah, Jerry Moran, R-Kan., Pat Roberts, R-Kan., Mike Rounds, R-S.D., Tim Scott, R-S.C., Richard Shelby, R-Ala., and Thom Tillis, R-N.C.

Companion legislation was introduced in the U.S. House of Representatives by U.S. Rep. Kristi Noem, R-S.D.