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NCBA Continues to Push for Death Tax Relief

WASHINGTON (January 18, 2024) – The National Cattlemen’s Beef Association (NCBA) strongly supports the Death Tax Repeal Act, led by Reps. Randy Feenstra (IA) and Sanford Bishop (GA). The Senate companion bill is led by Sen. John Thune (SD). Repealing the federal estate tax, also known as the Death Tax, is a top priority for NCBA.

“It is unconscionable for cattle producers to face a tax that forces them to sell all or part of their family’s farm or ranch due to the death of a family member. With the cost of farmland rapidly rising, the Death Tax presents a significant threat to the future of family farms and ranches,” said NCBA President and South Dakota cattle producer Todd Wilkinson. “Most cattle producers have significant assets but are cash-poor and operate on thin margins, leaving them with few options when they are saddled with an unexpected tax liability. Some producers are forced to sell off assets including land, livestock, farm equipment, or even their home. This is an incredible loss, and it starts a vicious cycle where future generations continue to face punitive taxes their ancestors paid multiple times. Rural America needs a tax code that promotes multi-generational, family-owned businesses instead of chopping them up.”

Current Death Tax relief is set to expire at the end of 2025, and it is vital that Congress acts soon and provide permanent relief for our family operations. If the federal estate tax exemption reverts to pre-2017 limits, coupled with the rapid inflation of farmland values, many more families will be subject to the Death Tax.

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