Fort Worth, Texas – Texas and Southwestern Cattle Raisers Association Second Vice President Robert McKnight, a rancher from Fort Davis, Texas, today made the following statement after the United States House of Representatives passed H.R. 1105, the Death Tax Repeal Act of 2015, with a 240-179 vote. The legislation was authored and championed by Rep. Kevin Brady (TX-8).
“Many ranching families have worked hard and sacrificed to build operations to pass down to their children and grandchildren,” said McKnight. “Too often, when it comes time for ranchers to pass their property along to the next generation, the death of a family member also comes with a hefty federal estate tax. Unfortunately, this expensive tax frequently forces ranching families to sell their land and equipment so they can afford to pay it. This also forces ranchers to lay off workers, creating a ripple effect that negatively impacts the entire economy.
“As a seventh-generation cattleman who has dealt with the death tax on multiple occasions, I can tell you how emotional and frustrating it can be. I am pleased that the House took action today by passing the Death Tax Repeal Act. TSCRA appreciates Rep. Brady for his leadership on this legislation and we urge the Senate to promptly act on repealing the estate tax. Death should never be a taxable event,” McKnight concluded.
TSCRA is a 138-year-old trade association and is the largest and oldest livestock organization based in Texas. TSCRA has more than 16,500 beef cattle operations, ranching families and businesses as members. These members represent approximately 50,000 individuals directly involved in ranching and beef production who manage 4 million head of cattle on 76 million acres of range and pasture land primarily in Texas and Oklahoma, but throughout the Southwest.