WASHINGTON, D.C., April 16, 2015 – “Farmers and ranchers need tax laws that protect their family businesses. They don’t want to be punished for their success. With House passage of the Death Tax Repeal Act of 2015, we are one step closer to tax reform that will help farm families invest in the future and pass their businesses on to the next generation.
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“Previous congressional action to increase the exemption provided important relief, but estate taxes still weigh on many farm families. Some must slow growth to remain exempt. We need tax policies that help capital-intensive businesses like farms and ranches, and that don’t stand in the way of sons and daughters ready to follow the agricultural legacy of their parents.”