Cattlemen Applaud Big Beautiful Bill
From the Ag Information Network, I’m Bob Larson. The One Big Beautiful Bill was signed into law over the Fourth of July weekend, and Kent Bacus, the Executive Director of Government Affairs for the National Cattlemen’s Beef Association, says the BBB has several positives for cattle producers …
BACUS … “This is a significant win for cattle producers all across the United States, because it delivers certainty on a lot of expiring tax provisions that were making it very difficult to plan businesses and to plan transitions to the next generation.”
One of the biggest wins for U.S. cattle producers, Bacus says is certainty surrounding the death tax …
BACUS … “One of the key provisions there is that this does a lot to provide more certainty regarding the death tax. The death tax exemption is increased to $15 million per individual, $30 million per couple, and it's made permanent. And I think that's a key provision, because this isn't something that is set to expire in four or five years. This is permanent.”
The death tax will also be adjusted for inflation annually.
Bacus says NCBA supports fully eliminating the Death Tax, but until then, this increased threshold is a huge victory for protecting more family farms and ranches than ever before.
Again, that is Kent Bacus, Executive Director of Government Affairs at the National Cattlemen’s Beef Association.
