Ag Groups Applaud Move to Kill Death Tax

Lawmakers from both sides of the aisle introduced legislation last week in the House and Senate calling for the repeal of the federal estate tax.

The American Farm Bureau Federation (AFBF) issued a statement endorsing the Death Tax Repeal Act of 2017.

“Farmers and ranchers face a number of factors that are unpredictable and beyond their control, from changing weather to fluctuating markets,” AFBF President Zippy Duvall said. “These family-run businesses need a tax code that encourages investment rather than one that punishes their success. We believe that repeal of the estate tax offers the best solution to protect farms, ranches and all family-owned businesses.”

The National Cattlemen’s Beef Association also responded to the news.

“As a fourth-generation cattle producer, I can attest that the death tax can wreak havoc with agricultural families, and it’s long past time that we kill it off once and for all,” said NCBA President Tracy Brunner.