Newsline for Feb. 26, 1999

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(ELLISON) - THE AMERICAN FARM BUREAU FEDERATION PROVIDES FARM AND FOOD RELATED NEWS WRAPS FOR RADIO STATIONS AND NETWORKS.

I'M BOB ELLISON. OUR REPORT RUNS 1:10.

HERE IS A SUGGESTED LEAD: FARMERS ARE BACKING A BIPARTISAN EFFORT TO PHASE OUT THE DEATH TAX. BOB ELLISON REPORTS.

ACTUALITIES COME FROM WASHINGTON STATE U-S REPRESENTATIVE JENNIFER DUNN, TENNESSEE REPRESENTATIVE JOHN TANNER, CALIFORNIA REPRESENTATIVE CHRISTOPHER COX, WASHINGTON STATE FARM BUREAU PRESIDENT STEVE APPEL AND TENNESSEE FARMER KEITH FOWLER. APPEL IS SPELLED A-P-P-E-L.

THERE ARE TWO EXTRA ACTUALITIES FOLLOWING THE STORY. IN THE FIRST EXTRA ACTUALITY, COX SAYS THE DEATH TAX IS THE OPPOSITE OF A SIN TAX IN THAT IT PENALIZES VIRTUOUS ACTIVITY. IN THE SECOND EXTRA ACTUALITY, FOWLER SAYS HE IS WORRIED HIS CHILDREN WILL NOT BE ABLE TO INHERIT HIS FARM.

STAND BY, THE STORY COMES FIRST IN 3...2...1...

(ELLISON) - A HOUSE BILL WOULD ELIMINATE THE ESTATE, OR DEATH TAX, IN ELEVEN YEARS. WASHINGTON STATE REPUBLICAN JENNIFER DUNN'S AND TENNESSEE DEMOCRAT JOHN TANNER'S BILL WOULD REDUCE THE TAX FIVE PERCENT A YEAR UNTIL IT IS GONE. DUNN TOLD REPORTERS ON CAPITOL HILL THAT THE DEATH TAX DESTROYS FAMILY BUSINESSES.

(DUNN) - IT STIFLES INVESTMENTS, IT TENDS TO DECREASE EMPLOYMENT AND IT RESULTS, MANY TIMES, IN FAMILY-OWNED BUSINESSES PHASING OUT AFTER ONLY THE FIRST GENERATION.

(ELLISON) - TANNER SAID ELIMINATING THE DEATH TAX WOULD MAKE A SOCIETAL STATEMENT IN ADDITION TO REDUCING A FINANCIAL BURDEN.

(TANNER) - WE BELIEVE THAT SAVING AND INVESTING AND PASSING ON GENERATIONAL FAMILY FARMS AND SMALL BUSINESSES IS GOOD. IT'S SOMETHING THAT WE OUGHT TO HAVE AS A MATTER OF NATIONAL POLICY.

(ELLISON) - WASHINGTON STATE FARM BUREAU PRESIDENT STEVE APPEL TOLD REPORTERS THAT MANY FARMERS WORRY THE ESTATE TAX WILL FORCE THEIR CHILDREN OFF OF THE FARM.

(APPEL) - IT'S MY HOPE THAT MY CHILDREN, SHOULD THEY CHOOSE, WILL SOMEDAY BE THE FOURTH GENERATION TO CULTIVATE THAT LAND. BUT UNLESS SOMETHING IS DONE TO CHANGE THE INHERITANCE TAX, I'M NOT SURE THAT CAN HAPPEN.

(ELLISON) - CURRENTLY ESTATE TAXES RANGE FROM THIRTY-SEVEN TO FIFTY FIVE PERCENT.

BOB ELLISON, WASHINGTON.

STAND BY FOR THE FIRST EXTRA ACTUALITY. THE CUT RUNS 11 SECONDS IN 3...2...1...

(COX) - SAVING AND INVESTING AND CREATING SMALL JOBS AND KEEPING PEOPLE IN SMALL BUSINESSES ON FAMILY FARMS AND RANCHES WHO HAVE BEEN EMPLOYED THERE FOR A LITTLE WHILE, ON THEIR FEET AND ALIVE.

(ELLISON) - STAND BY FOR THE SECOND EXTRA ACTUALITY. THE CUT RUNS 09 SECONDS IN 3...2...1...

(FOWLER) - I HAVE AN INFANT, FOUR MONTHS OLD. I ALSO HAVE A SIX-YEAR-OLD AND A NINE-YEAR-OLD. AND IN THE FUTURE I HOPE THEY HAVE AN OPTION TO CARRY ON THE FAMILY OPERATION.

(ELLISON) - THE FARM BUREAU RADIO NEWSLINE IS UPDATED EVERY MONDAY, WEDNESDAY AND FRIDAY AT 5 P.M. EASTERN TIME. THANK YOU FOR LISTENING.

This page was last modified Fri Mar 05, 1999 at 12:00 am