Coalition Supports Bill to Repeal the Estate Tax

April 2, 2021

The Honorable John Thune
U.S. Senate
511 Dirksen Senate Office Building
Washington, D.C. 20510

Dear Senator Thune:

On behalf of the Family Business Estate Tax Coalition (FBETC), thank you for introducing S. 617, the Death Tax Repeal Act of 2021, to permanently repeal the estate tax.

Historically, the FBETC has supported increased estate tax exemption thresholds indexed for inflation, permanent lower tax rates, and provisions for spousal transfer and stepped-up basis. Additionally, the FBETC supported the temporary estate tax relief in the Tax Cuts and Jobs Act (TCJA), which doubled the exemption to approximately $11.7 million for tax year 2021 and indexed future increases for inflation through 2025.

These changes represent significant relief to family-owned businesses from the estate tax. However, without further congressional action, the temporary increase in the exemption amount will expire at the end of 2025, increasing uncertainty and planning costs. While the FBETC supports making the estate tax provisions of TCJA permanent, the FBETC continues to believe that repeal is the best solution to protect all family-owned businesses from the estate tax.

Thank you for your continued efforts to support America's family-owned businesses and farms. We look forward to working with you to advance this important issue.

Sincerely,

Agricultural & Food Transporters Conference of ATA
Agricultural Retailers Association
Air Conditioning Contractors of America
American Bakers Association
American Beverage Licensees
American Council of Engineering Companies
American Farm Bureau Federation
American Foundry Society
American Frozen Food Institute
American Horse Council
American Hotel & Lodging Association
American International Automobile Dealers Association
American Lighting Association American Mold Builders Association
American Soybean Association
American Supply Association
AMT — The Association for Manufacturing Technology
Associated Builders & Contractors
Associated Equipment Distributors
Associated General Contractors (AGC) of America
Auto Care Association
Construction Industry Round Table
Convenience Distribution Association
Energy Marketers of America
Equipment Marketing & Distribution Association
FMI — the Food Industry Association
Hardwood Federation
Heating Air-conditioning and Refrigeration Distributors International
Independent Bakers Association
Independent Community Bankers of America
Independent Electrical Contractors
International Association of Plastics Distribution
International Bottled Water Association
International Foodservice Distributors Association
International Franchise Association
Manufactured Housing Institute
Metals Service Center Institute
Mortgage Bankers Association
NACS
National Association of Home BuildersNational Association of Manufacturers
National Association of Realtors
National Association of Wholesaler-Distributors
National Beer Wholesalers Association
National Black Chamber of Commerce
National Cattlemen's Beef Association
National Community Pharmacists Association
National Confectioners Association
National Cotton Council
National Council of Farmers Cooperatives
National Electrical Contractors Association
National Fastener Distributors Association
National Federation of Independent Business
National Funeral Directors Association
National Grange
National Grocers Association
National Insulation Association
National Lumber & Building Material Dealers Association
National Marine Distributors Association
National Newspaper Association
National Pork Producers Council
National Ready Mixed Concrete Association
National Roofing Contractors Association
National Small Business Association
National Stone, Sand, & Gravel Association
National Tooling and Machining Association
National Waste & Recycling Association
North American Die Casting Association
North American Renderers Association
Outdoor Power Equipment and Engine Service Association
Petroleum Equipment Institute
Plastics Industry Association
Policy and Taxation Group
Precision Machined Products Association
Precision Metalforming Association
PRINTING United Alliance
Public Lands Council
S Corporation Association
Service Station Dealers of America and Allied Trades
Small Business & Entrepreneurship Council
Southeastern Lumber Manufacterers Association, Inc.
The Real Estate Roundtable
Tire Industry Association
Truck Renting and Leasing Association
U.S. Chamber of Commerce
USA Rice
Water and Sewer Distributors of America
Western Growers
Wine & Spirits Wholesalers of America

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April 2, 2021

The Honorable Jason Smith
U.S. House of Representatives
2418 Rayburn House Office Building
Washington, D.C. 20515

The Honorable Sanford Bishop
U.S. House of Representatives
2407 Rayburn House Office Building
Washington, D.C. 20515

Dear Representatives Smith and Bishop:

On behalf of the Family Business Estate Tax Coalition (FBETC), thank you for introducing H.R. 1712, the Death Tax Repeal Act, to permanently repeal the estate tax.

Historically, the FBETC has supported increased estate tax exemption thresholds indexed for inflation, permanent lower tax rates, and provisions for spousal transfer and stepped-up basis. Additionally, the FBETC supported the temporary estate tax relief in the Tax Cuts and Jobs Act (TCJA), which doubled the exemption to approximately $11.7 million for tax year 2021 and indexed future increases for inflation through 2025.

These changes represent significant relief to family-owned businesses from the estate tax. However, without further congressional action, the temporary increase in the exemption amount will expire at the end of 2025, increasing uncertainty and planning costs. While the FBETC supports making the estate tax provisions of TCJA permanent, the FBETC continues to believe that repeal is the best solution to protect all family-owned businesses from the estate tax.

Thank you for your continued efforts to support America's family-owned businesses and farms. We look forward to working with you to advance this important issue.

Sincerely,

Agricultural & Food Transporters Conference of ATA
Agricultural Retailers Association
Air Conditioning Contractors of America
American Bakers Association
American Beverage Licensees
American Council of Engineering Companies
American Farm Bureau Federation
American Foundry Society
American Frozen Food Institute
American Horse Council
American Hotel & Lodging Association
American International Automobile Dealers Association
American Lighting Association
American Mold Builders Association
American Soybean Association
American Supply Association
AMT — The Association for Manufacturing Technology
Associated Builders & Contractors
Associated Equipment Distributors
Associated General Contractors (AGC) of America
Auto Care Association
Construction Industry Round Table
Convenience Distribution Association
Energy Marketers of America
Equipment Marketing & Distribution Association
FMI — the Food Industry Association
Hardwood Federation
Heating Air-conditioning and Refrigeration Distributors International
Independent Bakers Association
Independent Community Bankers of America
Independent Electrical Contractors
International Association of Plastics Distribution
International Bottled Water Association
International Foodservice Distributors Association
International Franchise Association
Manufactured Housing Institute
Metals Service Center Institute
Mortgage Bankers Association
NACS
National Association of Home Builders
National Association of Manufacturers
National Association of Realtors
National Association of Wholesaler-Distributors
National Beer Wholesalers Association
National Black Chamber of Commerce
National Cattlemen's Beef Association
National Community Pharmacists Association
National Confectioners Association
National Cotton Council
National Council of Farmers Cooperatives
National Electrical Contractors Association
National Fastener Distributors Association
National Federation of Independent Business
National Funeral Directors Association
National Grange
National Grocers Association
National Insulation Association
National Lumber & Building Material Dealers Association
National Marine Distributors Association
National Newspaper Association
National Pork Producers Council
National Ready Mixed Concrete Association
National Roofing Contractors Association
National Small Business Association
National Stone, Sand, & Gravel Association
National Tooling and Machining Association
National Waste & Recycling Association
North American Die Casting Association
North American Renderers Association
Outdoor Power Equipment and Engine Service Association
Petroleum Equipment Institute
Plastics Industry Association
Policy and Taxation Group
Precision Machined Products Association
Precision Metalforming Association
PRINTING United Alliance
Public Lands Council
S Corporation Association
Service Station Dealers of America and Allied Trades
Small Business & Entrepreneurship Council
Southeastern Lumber Manufacterers Association, Inc.
The Real Estate Roundtable
Tire Industry Association
Truck Renting and Leasing Association
U.S. Chamber of Commerce
USA Rice
Water and Sewer Distributors of America
Western Growers
Wine & Spirits Wholesalers of America