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A coalition of ranching and conservation organizations have announced mutual support for elimination of the death tax in order to reduce land fragmentation and preserve open space by keeping ranches and farms intact. The bill introduced by members of both parties in the house would phase out the death tax over ten years. "It is a sad situation when working family ranches are threatened with financial ruin on top of having to cope with the loss of a family member," said John Campbell with the National Cattlemen's Beef Association. The tax is levied on property when the owner dies. It can be as high as 55 percent and hits numerous small family businesses like farms and ranches the hardest. For cattle producers who do not have the cash resources to pay the tax, the result often is the sale of land. The tax may cause land that would otherwise be left as open space to be sold and developed. The coalition represents almost 30 ranching and conservation organizations that have been working together over the last year and a half. |
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