Ag groups join in estate tax letters to Congress

A group of national agriculture organizations have sent letters to House and Senate members asking for permanent and meaningful estate tax relief. The 35 organizations, including AFBF, said, “If Congress fails to act and estate taxes are allowed to be reinstated at the beginning of 2013 with only a $1 million exemption and top rate of 55 percent, the negative impact on our industry will be significant.”

The group continued, “At a minimum, we support extending the exemption at $5 million per person and retaining the top rate of 35 percent until such time as full repeal of the estate tax is possible.”