Statement by AFBF President Bob Stallman Regarding the Veto of
Estate Tax Repeal Legislation
PARK RIDGE, ILL. August 31, 2000--"President Clinton’s veto of the bill
to repeal the punitive death tax is a blow to America’s hard working
farmers and ranchers. The families of farmers and ranchers, who have
worked all their lives to build and operate their successful operations,
are the victims of this shortsighted decision that Congress must override.
The families of deceased farmers and ranchers are the people who will be
forced to choose which pieces of the family farm or ranch they must sell
to pay Uncle Sam’s unfair death levy.
"Because the ‘wealth’ of America’s farmers and ranchers is tied up in
land, buildings, livestock, equipment and other business-related capital –
not exactly liquid assets – the death tax is an especially difficult bill
for farm and ranch families to pay. And unfortunately, the government
wants these tabs settled in cash.
"Over the last few years, the nation’s farm economy has been at its
worst point in decades. Compounding these troubled times with costly
attorney and accountant fees, just to protect the farms and ranches we’ve
worked hard to grow, is like adding salt to the wound. The targeted death
tax plan offered by some in Congress is similar to one that was attempted
a few years ago. It didn’t work then and it won’t work now.
"The families of America’s farmers and ranchers deserve better – the
all-out repeal of the death tax. The death tax is one that America’s
farmers and ranchers should not have to live with."
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