Senator Chuck Grbadley Charles (Chuck) Ernest GrbadleyGOP will sell the middle clbad for a victory in the & # 39; reform & # 39; Kushner met with a special lawyer to discuss Flynn: report that Congress should rescue federal programs that really work PLUS (R-Iowa) said it favors the derogation of the estate tax, that the reform bill The Senate does not do so, saying that it "recognizes the people who are investing," the Des Moines Registry reported Saturday.
"I think I do not have the estate the tax recognizes the people who are investing, as opposed to those who are spending every penny they have, whether it's alcohol or women or movies," Grbadley told the newspaper.
The estate tax, often ridiculed as "death". Tax, "is a 40 percent tax on a person's wealth after he or she dies." The future of the estate tax is one of the key differences between House and Senate bills that must be reconciled in a joint committee.
The house version of the bil I request that the estate tax be completely eliminated by 2024. Before being totally repealed, the exemption from the estate tax will be doubled.
In the version of the Senate, the estate tax would not be repealed, but would allow up to $ 11 million to be approved tax-free for individuals, twice the current exemption.
Grbadley has previously ruled against the estate tax, saying early This year it "makes it harder than ever for families to move from one generation to another on the farm or family business."
It has previously sponsored legislation to abolish tax completely.
The property tax is one of the few significant differences between the tax reform bills approved by each House of Congress. Another is that the Senate bill repeals ObamaCare's individual mandate.
Republican lawmakers have expressed optimism that they will be able to resolve differences in a joint committee and deliver a bill to President Trump before the end of the year.