Estate Tax Repeal Bill Introduced

Ag groups including the  American Farm Bureau Federation and the National Cattlemen’s Beef Association came out in full support Thursday of new estate tax legislation introduced by 5 members of the U.S. House of Representatives.  The bill, H.R. 1259 (read it here), would eliminate the so-called “death tax.”

Mike Ross, U.S. representative for the state of article spoke out during a press conference about how easy it is for agricultural producers to hit the current $5 million exemption.

Even during that press conference, there was pressure from media that questioned how a business worth $5 million could be considered a “small business.”  Trying to depict how this can easily be the case in farming and ranching will again be the challenge in D.C.

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