WASHINGTON, D.C. – Senator Rick Scott joined Senate Majority Leader John Thune, Finance Committee Chairman Mike Crapo and 43 of their colleagues in reintroducing the Death Tax Repeal Act. This bill would repeal the federal estate tax, often referred to as the death tax, ending surprise taxes on family businesses, farms and ranchers when the owner passes away.

Senator Rick Scott said, “Florida families who have dedicated their lives to starting small businesses, like farms and ranches, help put food on tables and fuel the state’s economy. The families who own these businesses are working hard to support their own livelihoods while building legacies for future generations. We can’t let that effort be crippled by a sudden, overwhelming financial burden like the death tax. I’m proud to join my colleagues on this commonsense legislation to make sure family-owned businesses, farms and ranches can flourish for generations to come.”

Senate Majority Leader John Thune said, “Family farms and ranches play a vital role in our economy and are the lifeblood of rural communities in South Dakota. Losing even one of them to the death tax is one too many. 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.”

Senator Mike Crapo said, “Small businesses are the lifeblood of Idaho’s economy, and family farmers, ranchers and entrepreneurs have often worked lifetimes to grow their businesses. The death tax can be a devastating blow to American families who want to pass down their farm or small business to the next generation. It’s time to permanently provide relief from this unfair tax.”

Senators Jim Banks, John Barrasso, Marsha Blackburn, John Boozman, Katie Britt, Ted Budd, Shelley Moore Capito, John Cornyn, Tom Cotton, Kevin Cramer, Ted Cruz, John Curtis, Steve Daines, Joni Ernst, Deb Fischer, Lindsay Graham, Chuck Grassley, Bill Hagerty, Josh Hawley, John Hoeven, Cindy Hyde-Smith, Ron Johnson, Jim Justice, John Kennedy, James Lankford, Mike Lee, Cynthia Lummis, Roger Marshall, Mitch McConnell, Dave McCormick, Jerry Moran, Bernie Moreno, Markwayne Mullin, Pete Ricketts, Jim Risch, Mike Rounds, Eric Schmitt, Tim Scott, Tim Sheehy, Thom Tillis, Tommy Tuberville, Roger Wicker, and Todd Young. Companion legislation was introduced in the U.S. House of Representatives by Rep. Randy Feenstra.

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