Tipton Introduces Bill to Eliminate Estate Tax

Aug 3rd @ 6:34 am in News by Scott Staley

US Representative Scott Tipton introduced legislation in Congress yesterday that would provide relief from the so called ‘death tax.’ The bill would eliminate the estate tax which is currently levied when a family farm or business is passed on to a new generation. However, the tax relief is only provided when the farmland or business is run by a descendant for ten years. The bill would apply nationally and is similar to a bill at the state level introduced and passed this year by Representative Tipton’s opponent, State Representative Sal Pace of Pueblo. The bill is currently being considered by the House Ways and Means committee.