Senators John Thune, Kevin Brady Introduce Death Tax Repeal
Senator John Thune signals another attempt at repealing the death tax and forestalling a drastic increase in estate taxes. Senator Thune, along with Rapid City native and current Texas Senator, Kevin Brady, are sponsoring a bill to repeal the death tax altogether.
"We don't think death should be a taxable event,” Thune said.
“If you look at what families go through when they're in a grieving process, it's really ironic that we penalize and punish them through the tax code after they've worked really hard to build up some equity, some assets that they hope to pass on to the next generation."
Thune hopes this effort will succeed where other efforts to get rid of the death tax have failed.