NCBA Death Tax Analysis Available

NCBA has released a 10-page analysis document for cattle producers regarding permanent repeal of the Death Tax. The NCBA analysis can now be found online at: hill.beef.org/deathtaxanalysis2005.
“Tax legislation can become extremely confusing, and we need to clear up any uncertainty regarding what the future holds for family operations,” says Clark Willingham, a past NCBA president. “This analysis does just that.”

The U.S. Senate is expected to vote on permanent repeal legislation in early September after returning from the August recess. “A few groups who are in opposition to the upcoming vote on full repeal legislation are now suggesting farmers and ranchers consider compromise in lieu of full repeal,” says NCBA Vice President of Government Affairs, Jay Truitt. “There is NO such thing as compromise on the Death Tax, and this analysis explains why, number by number.”

The Death Tax is on a gradual phase-out schedule, ultimately ending with full repeal in 2010. But in 2011, thanks to a ‘sunset clause,’ the Death Tax will be re-instated at 55 percent and only $1 million exemption. NCBA continues to urge members of the U.S. Senate to vote in favor of H.R. 8. ©