House Minority Leader Tony McCombie (Savanna) presented a measure in the House Revenue Committee this week to provide tax relief to residents. Her bill, HB1459, would address the estate tax, which has unfairly targeted family farms and small businesses. The Representative was joined by members of the Farm Bureau and the National Federation of Independent Business who are supportive of her bill and provided key testimony in favor of the measure.
This legislation supports persons who have estates, including many farmers and small businesspeople, as the wealth inherited is repeatedly taxed, both when a person was alive, and then again at death. McCombie’s bill would prevent such a double taxation.