Thornberry reintroduces Death Tax Repeal Act

U.S. Rep. Mac Thornberry (R-TX) recently reintroduced the Death Tax Repeal Act to end federal estate and gift taxes, a proposal the lawmaker has consistently sponsored since first being elected a Texas congressman in 1995.

“Tax reform made the death tax less burdensome, but it should be totally eliminated,” Rep. Thornberry said on Jan. 8. “Death should never be a taxable event. All Americans should be able to work hard, build, and save knowing that they can pass on what they have earned to their children and grandchildren.”

H.R. 222 is a two-page bill that would permanently and fully eliminate the death tax, also known as the inheritance tax or estate tax, which Rep. Thornberry said requires families to turn over parts of an inheritance to the federal government.

Small business owners, farmers and ranchers are impacted the most by this tax, he said, making it more difficult for subsequent generations to build upon a family’s hard work.

“Americans are required to pay taxes on their savings and incomes while they are alive,” Rep. Thornberry said. “They should not have to do so again at death, nor should their children and grandchildren have to bear these taxes.”

The most recent iteration of the bill, H.R. 198, which Rep. Thornberry introduced in January 2017, garnered 61 cosponsors but stalled in the U.S. House Ways and Means Committee, which is now considering the revised version, H.R. 222.