The National Federation of Independent Business (NFIB) has expressed strong support for the Death Tax Repeal Act, a piece of legislation introduced by Sen. John Thune, Rep. Randy Feenstra, and Rep. Sanford Bishop. The proposed law aims to permanently eliminate the death tax on family-run small businesses.
Kelsey Snyder, NFIB Principal of Federal Government Relations, stated: “NFIB appreciates Senator Thune, Congressman Feenstra, and Congressman Bishop for introducing common sense legislation for family-run small businesses.” Snyder further emphasized that taxing small business owners at death is detrimental as it "discourages savings and investments, reduces wages and job creation," and often leads to the dissolution of family-run businesses. According to Snyder, the bill will help keep these businesses within families and protect them from acquisition by larger competitors.
The NFIB has been advocating for small and independent business owners across America for 80 years. It operates as a nonprofit, nonpartisan organization driven by its members since its founding in 1943.
For more information about NFIB's activities and advocacy efforts, visit their website at nfib.com.
