Congressman Randy Hultgren yesterday co-sponsored the Farmers Against Crippling Taxes Act (H.R. 483 The FACT Act).
"The death tax is an unfair assault on the hard work and investment of small business owners and family farmers across the country," said Hultgren. "Taxing the same assets for a third or fourth time is exactly what makes our current tax code so harmful to economic growth."
"As our economy continues to underperform, we must do more to make life more affordable, and encourage people to make the investments in their businesses that will get our economy moving again. The death tax flies in the face of the very foundation of the American dream. Small businesses are the engine of our economy. Entrepreneurship and ingenuity should not be penalized."
"Not only is the death tax harmful to economic growth, but every American intuitively understands it's unfair to tax the same assets over and over again, often with the effect of forcing families out of multi-generational farms or small businesses."
Congressman Hultgren has consistently supported efforts to repeal the death tax. He also co-sponsored H.R. 1259, the Death Tax Repeal Permanency Act of 2011 in the 112th Congress.