#WhatsAtStake without Republican leadership: Family businesses

Nov 06, 2018 | Communications •

Democrats like to talk about #WhatsAtStake and being #ForThePeople. Want to know what’s at stake? A booming economy, safer communities, and a strong military.

When everyday Americans look at their bigger paychecks or the “now hiring” signs in their hometowns, they have only one party to thank for that.

Spoiler: it isn’t the Democrats. No, they fought us every step of the way as we worked to help everyone in this country have a chance at a better life. Worse still — they’ve promised to raise taxes and take all of these benefits away from the American people.

Democrats have promised that if given the opportunity, they would repeal the doubled Republican exemption on the estate tax.

“Estate tax” is a misleading name. It gives the impression that it only impacts the ultra-wealthy who have the means to have a property that could be termed an “estate.” Democrats have capitalized (pun intended) on this misconception, painting everyone who has had to pay this tax a wealthy landowner who has money to spare.

In reality, the estate tax, or “death tax” as many know it, hurts middle-class and lower-income families, and discourages business owners from investing or planning for the long-term.. It punishes farmers and small business owners and forces them to pay the government because their loved one has the audacity to pass away before transitioning the farm or business assets to their families.

Rep. Kristi Noem (R-SD) experienced this in her own family. When her father died in a farming accident, her family received a bill from the IRS. In their time of grief, they now had to worry about whether or not they’d be able to keep the family farm. Sure they had cattle and machinery and land, but they didn’t have the money in the bank to pay what the IRS was asking.

It’s tragic and extremely unfair, and that’s why House Republicans took action. Although the House version fully repealed the death tax, the final agreement on the Tax Cuts & Jobs Act doubled the exemption to $11.16 million to help ensure that families that were struggling to get by were protected from this tax.

While Republicans work to make this change permanent, Democrats who claim to be #ForThePeople are looking these families in the eyes and threatening — no, promising — to take all this relief away from them.