United Fresh and a coalition of 90 other agricultural stakeholders joined together this week to solve the burden placed on agriculture by the current estate tax.
"The detrimental effect of this tax on family farming operations continues to grow," said United's Kam Quarles, United's vice president of government relations and legislative affairs. "Efforts to extend exemptions for farming operations are helpful, but not a long term solution to the problem."
Congressman Mike Thompson (D-CA), as a member of the Ways and Means Committee holding jurisdiction over tax issues, has introduced the Family Farm Preservation and Conservation Estate Tax Act (H.R. 3524). This legislation seeks to remedy the issue for agriculture by excluding farm assets from the estate tax, so long as they remain in a family agricultural operation or conservation easement.
For more on H.R. 3524 and United's efforts on this issue, please contact Kam Quarles at 202-303-3400 ext. 427.
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