IOWA CONGRESSMAN RANDY FEENSTRA SAYS BY THIS TIME NEXT MONTH THE OUTLINE OF A MASSIVE BILL THAT INCLUDES EXTENDING CURRENT TAX CUTS SHOULD BE DEVELOPED.
TAXCUT10 OC………BY MEMORIAL DAY.” :13
THE 4TH DISTRICT REPUBLICAN FROM HULL HAS SERVED ON THE WAYS AND MEANS COMMITTEE SINCE HE BECAME A MEMBER OF THE U-S HOUSE IN 2021.
FEENSTRA SAYS BEYOND TAXING AND SPENDING, THE BILL WILL INCLUDE BOTH REPEAL OF BUREAUCRATIC RED TAPE AS WELL AS NEW GOVERNMENT RULES REGULATIONS AIMED AT ENERGY INDEPENDENCE.
TAXCUT11 OC……AND FOR ICE.” :11
HE SAYS A KEY PART OF THE PACKAGE WILL BE EXEMPTIONS TO THE FEDERAL ESTATE TAX OF BETWEEN 18 AND 41 PERCENT THAT’S CHARGED ON INHERITED CASH AND PROPERTY WORTH OVER 13-POINT-SIX MILLION DOLLARS.
TAXCUT12 OC……..AND OTHER THINGS.” ;18
IOWA IS NOW ONE OF 38 STATES THAT DO NOT HAVE AN ESTATE TAX.
THE STATE OF IOWA’S ESTATE TAX WAS REPEALED ON JANUARY 1ST OF THIS YEAR.