Monday, June 24, 2013
As I have previously discussed, The Death Tax Repeal Act of 2013 has been introduced in both the House and the Senate.
The American Farm Bureau Federation (AFBF) has come out in full support of this legislation, which would permanently eliminate the estate tax.
Despite tax relief “enacted last year to help farmers cope with estate taxes, AFBF believes permanent repeal is still the best solution to protect” farm operations and the rural communities and businesses they support. Because liquid assets like land and buildings comprise most of a farm’s value, most family farms must sell these necessary assets to pay the estate tax.
See Repealing the Death Tax Supported by Farm Bureau, National Hog Farmer, June 19, 2013.