Often, other family members are not interested in running the business any longer. In any case, the estate tax can be modified to protect small businesses without repealing it entirely. Rarely, if ever. There are special estate tax breaks for farms, including the ability to value farmland at less than market value. In any case, the estate tax can be modified to protect farms.
Repeal is unnecessary.
Not even close. These capital gains, which make up the vast bulk of the value of the largest estates, have never been taxed. From 2012 to 2021, the figure is three-quarters of a trillion dollars. That means less funding available to help meet the growing costs of Social Security, Medicare and Medicaid, as well as other priorities such as improving educational opportunities, expanding health insurance coverage, and reducing child poverty. Just as important, the estate tax prevents giant fortunes from building up over generations.