South Dakota Senator John Thune along with Senate Republican Leader Mitch McConnel have reintroduced the Death Tax Repeal Act of 2021. The South Dakota Cattlemen’s Association and several other ag groups back the measure. Cattlemen’s President Eric Jennings says the estate or death tax is very devastating to small businesses and particularly to farmers and ranchers.
He says the rate of the tax forces some operators to sell off at least part of their operation in order to pay the bill.
Jennings also says it’ll be a tough task to pass the measure as the new Congress will be trying to get tax money to pay for all their programs.
All of the co-sponsors so far are Republicans so it will be necessary to attract some Democrats to support the measure.