Marco Rubio Looks to End the Death Tax

U.S. Sen. Marco Rubio, R-Fla., announced on Wednesday that he is co-sponsoring a measure to make the death tax repeal permanent.

I have long supported ending the death tax because it is unfair and bad for economic growth, Rubio said in a statement. Floridians are already facing an onslaught of new tax increases from Obamacare, and they should not be hit with another burdensome tax hike from the Obama administration in a few short months. Under no circumstances should death be a taxable event, and I look forward to working to enact the Death Tax Repeal Permanency Act to make sure that this is the case.

Bill Herrle, the executive director of the National Federation of Independent Businesss Florida chapter, insisted a permanent repeal of the tax would help small businesses.

Protecting small-business owners from the estate tax is important to keeping Main Street family businesses operating for future generations, said Herrle. Many small businesses are family-owned or closely held, and the estate tax can often tax a family right out of business. We thank Senator Rubio for his leadership on repealing this job-killing tax and his dedication to encouraging Congress to help Floridas small-business owners.