Statement by President Bob Stallman,
American Farm Bureau Federation,
Regarding House Passage of Death Tax Elimination Legislation

WASHINGTON, D.C., June 9, 2000 -- "The House-passed bill to repeal the federal death tax is a blessing for America's farmers and ranchers. Too often, farm and ranch families are forced to sell their land, buildings or equipment to meet the financial burden of Uncle Sam's death tax -- a payment the government demands in cash. When farm families have to sell even a portion of their assets, the economic viability of the family farm is destroyed, and it dies with the farmer.

"Farms and ranches are the backbone of rural America, and the loss of these family-owned businesses due to the federal estate tax also penalizes rural communities and the local businesses that are supported by agriculture. When farm and ranch families are forced to sell land to raise
money to pay their death tax bills, often that land is forever taken out of production and lost to development. This, too, is an unnecessary and punitive toll on rural America.

"Some people have said that death taxes would not hurt farms, ranches and other family-owned small businesses if estate planning were used effectively. However, times are tough in agriculture, and farmers are finding it difficult enough to pay for seed, fertilizer, fuel and other
operating costs, without having to worry about costly attorney and accountant fees for estate planning, let alone tax burdens that will come when they die.

"Farm families across this nation have worked long and hard to build their businesses. Along the way they paid taxes on all that they earned and it is wrong to destroy their businesses by making them pay taxes again when a family member dies."

This page was last modified Fri Jun 09, 2000 at 03:53 pm