Getting the Death Tax Repealed

Getting the Death Tax Repealed

At the end of April, the U.S. House of Representative bi-partisanly passed a bill which would repeal the Death Tax. Washington Cattlemen’s Association Executive Vice President Jack Field shares more details as the bill now is waiting action on the Senate side.
Field: “That’s where certainly all of us especially in Washington need to make sure we do our parts by contacting both Senator Cantwell and Senator Murray and urge their support of this measure. This is something that will take bi-partisan support to make sure that we have enough votes to override a veto if it gets tot he president’s desk and we see the threat of a veto. We have a little ways to go on this but again something that right now could bring some true relief. It is important to remember when you look capital gains you could be looking at rates as high as 55 percent. So you spend your whole life to build an estate — whether it is a farm or ranch or business — then to have heirs forced into liquidating portions, if not all of it, simply to pay inheritance taxes is in my opinion an absolutely crime.”

 

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