Death Tax Repeal

For far too long the federal government has been forcing grieving families to pay a tax on their loved one’s life savings that has been built from income already taxed when originally earned. The federal estate tax, commonly referred to as the death tax, imposes a tax rate as high as 40 percent on a family estate during the transfer of ownership upon the death of a loved one. Many of these families are the owners of South Dakota ranches, farms, and businesses, who have scrimped, saved, and built job-creating businesses all with the hope and promise of passing their success on to the next generation. I believe that repeal of the destructive death tax is critical to keeping family farms and businesses intact across South Dakota. Recently, I introduced the Death Tax Repeal Act of 2013 which would permanently repeal the federal death tax. I am committed to promoting policies that provide incentives to grow family businesses and support building our economy, which starts with a permanent end to this unfair tax.