Marshall Fights to Permanently Repeal Death Tax for Kansas Farmers
(Washington, D.C., March 11, 2021) – U.S. Senator Roger Marshall, M.D. joined dozens of his Senate colleagues to introduce legislation to permanently repeal the federal estate tax, more commonly known as the death tax. The Death Tax Repeal Act of 2021, would finally end this purely punitive tax that has the potential to hit family-run farms, ranches, and businesses as the result of the owner’s death.
“There is a saying in Kansas that farmers live poor but die rich. That’s because much of a farmer’s net worth is in land assets that appreciate in value,” said Senator Marshall. “After spending years paying off land with income already taxed each year, farmers are taxed again, at death, trying to pass the land on to their children. The death tax only punishes the hard work of working families trying to keep their farms or small businesses generational.”
The Death Tax Repeal Act of 2021 is supported by the American Farm Bureau Federation, the National Cattleman’s Beef Association, NFIB, the National Association of Manufacturers, the Family Business Coalition, the Family Business Estate Tax Coalition, the Policy and Taxation Group, the Associated General Contractors of America, the National Taxpayers Union, and many others.