Tuesday, January 31, 2017

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Farm Bureau Supports Death Tax Repeal

Washington— Legislation introduced in the House and Senate this week would repeal the death tax, a priority for Farm Bureau members.

AFBF Senior Director of Congressional Relations Pat Wolff says this a critical time for passing the legislation before Congress starts on comprehensive tax reform in April.

“Legislation to repeal the death tax has been introduced in Congress. And it’s important that it’s happening because Congress is about to write comprehensive tax reform. The legislation says repeal estate taxes and we want that to be in the tax reform package,” said Wolff.

Wolff says that while the estate tax exemption level of $5 million is beneficial, it does not help all farmers and ranchers.

“Farmers and ranchers are worried about growing and going over that level. So, we need to get rid of the tax once and for all. We don’t need it hanging over people’s heads and we don’t need farmers having to pay their attorneys to write them estate tax plans just in case,’ explained Wolff.

Wolff says farmers and ranchers need to make their voice heard and tell Congress to repeal the death tax.

“Farmers everywhere need to call their representatives and tell them to cosponsor H.R. 631 or S. 205, the bills to kill the death tax once and for all,” said Wolff.

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