Long Supports Repeal of Estate Tax

Posted on April 18, 2015 08:26 am CDT

KSPR

WASHINGTON, DC -

An Ozarks congressman votes to repeal the death tax. Rep. Billy Long, (R) Missouri-7th District, voted with the majority to repeal the estate tax Thursday.
The Republican majority pushed the bill through with a 240-179 vote. The federal tax rate on estates is 40 percent, but big exemptions limit the share of estates that pay it to fewer than 1 percent. This year, the exemption is $5.43 million for a single person. Married couples can exempt up to $10.9 million.

“The House voted today to relieve Americans of taxation on a lifetime of hard work, “Long said. “Those planning to leave their estates with children and grandchildren should not have to worry about the government taxing life savings or spoiling longtime plans to better their families. The death tax especially affects small business owners and family farms, which are already saddled with tax and regulatory burdens.”

Democrats say repealing the tax is a giveaway to the rich. The White House threatened to veto the bill arguing it would add $269 billion to the budget deficit over the next decade.







Subscribe

Contribute to the Campaign

Please consider making a contribution today to support Billy’s quest to bring real conservative values to Washington.

Get Started »

Join Us

If you would like to access the members-only areas of the Billy Long for Congress web site or leave us information on how can volunteer, please take the time to share your details with us.

Join The Team! »

Stay Connected

Stay connected to the latest campaign updates and discussions by following Billy on his Facebook page or following Billy’s tweets on twitter.

-->