NEWS
House Passes Estate Tax Repeal Bill
Thu Apr 16, 2015 12:57 PM CDT

WASHINGTON (AP) -- The House voted Thursday to repeal the federal tax on estates, a politically volatile issue that affects few inheritances.

Republicans refer to it as the "death tax." They say it prevents small business owners and family farmers from passing businesses on to their heirs.

"Can you imagine working your whole life to build up a family-owned business and then upon your death Uncle Sam swoops in and takes nearly half of what you spent a lifetime building up for your children and grandchildren?" asked Rep. Kevin Brady, R-Texas, who sponsored the bill.

"It is at its heart ...

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