Smith Signs Letter to Secretary Lew Opposing New Death Tax Regulations

Nov 3, 2016 Issues: Small Business, Taxes, Ways & Means

Congressman Adrian Smith (R-NE) joined 23 fellow House Ways and Means Committee members in sending a letter to Treasury Secretary Jacob Lew today to urge the Treasury Department to withdraw newly proposed regulations which would increase the Death Tax burden on family-owned businesses.

“The Death Tax poses a significant threat to Nebraska’s farmers, ranchers, and small business owners,” Smith said.  “They take pride in their hard work, and many want their children and grandchildren to continue it.  Unfortunately, new regulations proposed by the Obama administration would make it even more difficult for these family-owned businesses to survive through the generations.  If we want to grow opportunity in America, the endless roll of red tape must be stopped.”

Click here to read the full text of the letter.

Smith is also a cosponsor of H.R. 1105, the Death Tax Repeal Act.  The House passed H.R. 1105 last year.