Letter
Dear Senator Thune:
On behalf of the Family Business Estate Tax Coalition (FBETC), thank you for introducing the Death Tax Repeal Act of 2023 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 $12.9 million for tax year 2023 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 Retailers Association
Amcot
American Bakers Association
American Beverage Licensees (ABL)
American Building Materials Alliance
American Farm Bureau Federation
American Foundry Society
American Hotel & Lodging Association
American International Automobile Dealers Association
American Lighting Association
American Mold Builders Association
American Pipeline Contractors Association
American Rental Association
American Sheep Industry Association
American Soybean Association
American Sugar Alliance
American Supply Association
American Veterinary Medical Association
Associated Builders and Contractors
Associated Equipment Distributors
Associated General Contractors of America
Association of Equipment Manufacturers
Brick Industry Association
Construction Industry Round Table
Convenience Distribution Association
Cotton Warehouse Association of America
Crop Insurance Professionals Association
Decorative Hardwoods Association
Distribution Contractors Association
Energy Marketers of America
FMI – the Food Industry Association
Forest Resources Association
Forging Industry Association
Hardwood Federation
Independent Bakers Association
Independent Electrical Contractors
Industrial Fasteners Institute
Insulation Contractors Association of America (ICAA)
International Foodservice Distributors Association
International Franchise Association
International Housewares Association
International Warehouse Logistics Association
Main Street Employers Coalition
Manufactured Housing Institute
Manufacturer & Business Association
Metals Service Center Institute
Mortgage Bankers Association
NACS
National All-Jersey
National Apartment Association
National Asphalt Pavement Association (NAPA)
National Association of Manufacturers
National Association of Professional Insurance Agents
National Association of RV Parks & Campgrounds
National Association of State Departments of Agriculture
National Association of Wholesaler-Distributors
National Automatic Merchandising Association (NAMA)
National Beer Wholesalers Association
National Cattlemen’s Beef Association
National Community Pharmacists Association
National Confectioners Association
National Cotton Council
National Council of Agricultural Employers
National Council of Farmer Cooperatives
NATIONAL ELECTRICAL MANUFACTURERS REPRESENTATIVES ASSOCIATION® (NEMRA)
National Federation of Independent Business (NFIB)
National Funeral Directors Association
National Grange
National Grocers Association
National Lumber & Building Material Dealers Association
National Marine Distributors Association
National Multifamily Housing Council
National Newspaper Association
National Onion Association
National Pork Producers Council
National Potato Council
National Ready Mixed Concrete Association
National Restaurant Association
National Roofing Contractors Association
National Sorghum Producers
National Stone, Sand & Gravel Association
National Tooling and Machining Association
National Utility Contractors Association
North American Die Casting Association
Outdoor Power Equipment and Engine Service Association
Plastics Pipe Institute
Plumbing-Heating-Cooling Contractors—National Association
Policy and Taxation Group
Power and Communication Contractors Association
Precision Machined Products Association
Precision Metalforming Association
PRINTING United Alliance
Professional Beauty Association (PBA)
Public Lands Council
S Corporation Association
Service Station Dealers of America and Allied Trades (SSDA-AT)
Small Business & Entrepreneurship Council
Society of American Florists
Society of Collision Repair Specialists (SCRS)
South East Dairy Farmers Association
Southwest Council of Agribusiness
Specialty Equipment Market Association
Textile Care Allied Trades Association
Tire Industry Association (TIA)
Truck Renting and Leasing Association
U.S. Durum Growers Association
US Rice Producers Association
USA Rice
Water and Sewer Distributors of America
Wine & Spirits Wholesalers of America
Wine Institute
