Iowa House: Thomas Gerhold

Week 2

Hello District 75 from the State Capitol!

Thomas Gerhold

Week two has come to an end, with the initial process of getting bills proposed to the House floor is at full speed. Most bills drafted will not make it that far, which for the most part is a good thing.

I proposed three bills which deal with inheritance taxes. The first of which will completely eliminate inheritance taxes over a ten-year period. Unfortunately, these taxes generate quite a bit of revenue for the state. This is not acceptable, because this money has already been taxed, and belongs to the people with which it’s involved, not the government. If this bill doesn’t make it to the House floor, I hope the other two will.

A second bill I proposed will expand the definition of heirs of inheritances to include more than just direct lineage descendants. Current law for allows for only lineal ascendents and descendants. My bill will include cousins, step-cousins, nieces, nephews, step-nieces & nephews, and other relatives.

The proposals in the third bill will raise annual gift exemptions from $13,000 to $25,000 and increase the exemptions of the value of all property in the estate from $25,000 to $100,000.

These are just a couple of ways I believe we can shrink government and promote more freedom to the people in our constitutional republic!

Hope you all keep warm, safe, and healthy!

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