Washington, D.C. – U.S. Representative Mimi Walters (CA-45) released the following statement after voting in support of H.R. 1105, the Death Tax Repeal Act of 2015. This legislation repeals the 40 percent tax on a deceased person’s estate, which has been identified as a primary cause for the dissolution of family businesses. H.R. 1105 passed in the U.S. House by a vote of 240 to 179 and now awaits consideration by the U.S. Senate.
“During a time of grieving over the loss of a loved one, the last thing a family should have to worry about is the financial burden of the death tax, “said Rep. Mimi Walters. “Though it only accounts for a small portion of federal revenue, the death tax impacts families tremendously, and is one of the biggest reasons that family businesses are forced close their doors for good. When families are working hard to build a legacy in order to pass down opportunities to their future generations – they shouldn’t be punished by the federal government with burdensome additional taxation. For this reason, I was pleased to support the Death Tax Repeal Act today - I’m hopeful the Senate will act swiftly in the passage of this common-sense bill.”
Walters represents California’s 45th District and sits on the House Transportation and Infrastructure and Judiciary Committees.