Here’s an issue where Senator Rounds has broken from his South Dakota colleagues in Washington. Apparently, he’s one of two Republicans in the US Senate who is offering a dissenting opinion on the estate tax:
The party’s leaders included estate-tax repeal in the tax-overhaul framework they released last week. But Republican Sens. Mike Rounds of South Dakota and Susan Collins of Maine said this that week repeal isn’t necessary. Others say their desire to eliminate the tax must be balanced against other priorities including tax cuts for businesses and middle-class families.
“I don’t think we have to totally repeal it because I think the folks on the upper end of it are all avoiding it right now legally anyway,” Mr. Rounds said Wednesday. “For me, we can’t fail on [a tax overhaul] and whatever we can do to pick up the last few votes we may need, I’m ready to negotiate.”
The issue has already caught the attention of at least one South Dakota group, the South Dakota Stockgrowrrs, whose president disagrees:
The death tax has been in the news a lot lately and has been accused of being a tax that only the rich have to worry about. The problem with giving this tax the title of the “Robin Hood” of taxes is it forgets to take into account the backbone of America, the ones that raise the food. I am very concerned, today after reading the comments of South Dakota Senator Mike Rounds announcing his opposition to the Republican Party’s long time goal of repealing the death tax.
I’m not sure what caused Senator Rounds to do a complete turnaround in the last couple of months but I feel the family farmers and ranchers of South Dakota deserve an explanation. It’s hard to believe a Senator from South Dakota would be quoted as saying the death tax repeal is unnecessary when it will at some point affect one-third of the farmers and ranchers in the state that he represents.
I believe Senator Rounds is trying to say that as part of tax reform, everything must be on the table and balanced against the greater good. But obviously, there’s some who disagree.
What are your thoughts?