Alexander Bill Would Repeal Federal Inheritance Tax

Tennessee Sen. Lamar Alexander is cosponsoring a bill to repeal the federal estate tax, the Nashville Business Journal reports. The legislation, introduced by Sen. John Thune (R- South Dakota) in June, is like one passed by the Tennessee General Assembly in April 2012 that will eliminate Tennessee's inheritance tax after 2015. "Nobody should be forced to sell the farm or family-owned small business they've just inherited in order to pay the tax bill," Alexander said in a news release.