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Friday, February 21, 2025

Tuberville joins effort for permanent repeal of federal estate tax

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US Senator for Alabama | US Senator for Alabama website

US Senator for Alabama | US Senator for Alabama website

U.S. Senator Tommy Tuberville of Alabama has joined forces with Senator John Thune from South Dakota to reintroduce legislation aimed at permanently repealing the federal estate tax, commonly referred to as the death tax. The proposed Death Tax Repeal Act seeks to eliminate this tax, which affects family-run farms, ranches, and businesses upon the owner's death. Senator Tuberville has previously introduced similar legislation in both the 117th and 118th Congresses.

"The Death Tax destroys American jobs by stifling profitable businesses that employ hardworking Americans," said Senator Tuberville. "Our government should be focused on creating an economic environment that preserves small businesses and family farms, instead of taxing them out of operation. I will keep pushing for policies that incentivize our next generation of farmers and business owners so that we can continue to rely on their contributions for a strong economy."

Senator Thune echoed these sentiments, emphasizing the importance of family farms and ranches in rural communities like those in South Dakota. "Losing even one of them to the death tax is one too many," he stated. "It’s time to put an end to this punishing, burdensome tax once and for all so that family farms, ranches, and small businesses can grow and thrive without costly estate planning or massive tax burdens that can threaten their viability."

The legislation is supported by several other U.S. Senators including Jim Banks (R-IN), John Barrasso (R-WY), Marsha Blackburn (R-TN), John Boozman (R-AR), Katie Britt (R-AL), Ted Budd (R-NC), Shelley Moore Capito (R-WV), John Cornyn (R-TX), Tom Cotton (R-AR), Kevin Cramer (R-ND), Mike Crapo (R-ID), Ted Cruz (R-TX), John Curtis (R-UT), Steve Daines (R-MT), Joni Ernst (R-IA), Deb Fischer (R-NE), Lindsey Graham (R-SC), Chuck Grassley (R-IA), Bill Hagerty (R-TN), Josh Hawley (R-MO), John Hoeven (R-ND), Cindy Hyde-Smith (R-MS), Ron Johnson (R-WI), Jim Justice (R-WV), John Kennedy (R-LA), James Lankford(R-OK ), Mike Lee(R-UT ), Cynthia Lummis(R-WY ), Roger Marshall(R-KS ), Mitch McConnell(R-KY ), Dave McCormick(R-PA ), Jerry Moran(R-KS ), Bernie Moreno(R-OH ), Markwayne Mullin(R-OK ), Pete Ricketts(R-NE ), Jim Risch(R-ID ), Mike Rounds(R-SD ), Eric Schmitt(R-MO ), Rick Scott(R-FL ), Tim Scott(R-SC ), Tim Sheehy(R-MT ) , Thom Tillis( R-NC ) , Roger Wicker( R-MS ) , and Todd Young( R-IN ).

In addition to Senate support, companion legislation has been introduced in the U.S. House of Representatives by Rep. Randy Feenstra from Iowa's 4th district.

Previously, during discussions surrounding the Tax Cuts and Jobs Act in 2017, there was an attempt to repeal the estate tax. While it was not repealed then, the law did double the individual estate and gift tax exclusion to $10 million—approximately $13.9 million adjusted for inflation through 2025—which reduced its impact on families and generationally owned businesses until its expiration at the end of 2025.

Senator Tuberville serves Alabama in the United States Senate and is part of various committees including Armed Services, Agriculture, Veterans’ Affairs, HELP, and Aging.

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