In an opinion piece Rep. Bill Flores and Sen. John Thune argue that it is time for the abolishment of the estate tax. The two congressman assert that it is small business owners and farmers that are penalized by this tax not the handful of super wealthy that are more commonly associated with the legislation. They also argue that the tax creates a drag on the economy and would create 139,000 new jobs if repealed. However, none of their predictions will likely be tested soon as there exist significant opposition from the White House which could scuttle the bill.
See Bill Flores & John Thune, Time For The Estate Tax To Die, USA Today, Apr. 16, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
