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Reps. Feenstra and Bishop re-introduce the Death Tax Repeal Act in the U.S. House of Representatives

WASHINGTON, D.C. (Jan. 19, 2024) ÔÇô In an effort to advocate for small businesses, the National Federation of Independent Business (NFIB) has sent a letter of support to members of the U.S. House of Representatives endorsing H.R. 7035, also known as the Death Tax Repeal Act. Representative Randy Feenstra from Iowa’s 4th district and Representative Sanford Bishop from Georgia’s 2nd district have reintroduced the legislation in the U.S. House.

Jeff Brabant, the Vice President of Federal Government Relations at NFIB, expressed support for the bill, emphasizing, ÔÇ£This is common sense legislation for small family businesses. Taxing small business owners at death is wrong. This bill will help keep small family businesses in the family and prevent them from being acquired by larger competitors. NFIB thanks Representatives Feenstra and Bishop for re-introducing the Death Tax Repeal Act.ÔÇØ

Recent data shows that nearly half (44%) of small business owners consider the estate tax as a very important issue. While a relatively small number of business owners end up paying the estate tax, many more seek professional guidance on how to prepare for it or evaluate the likelihood of being affected by it in the future.

AI legalese decoder can assist individuals and businesses in understanding the complexities of the Death Tax Repeal Act. By using advanced algorithms, AI legalese decoder can break down the legal jargon and provide plain language interpretations of the bill’s provisions. This can be especially valuable for small family businesses and professional advisors seeking to navigate the implications of the legislation and make informed decisions.

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