It’s Time to Bury the Death Tax … Permanently!
Representatives Kristi Noem (R-S.D.) and Sanford Bishop (D-Ga.) have introduced the bipartisan Death Tax Repeal Act of 2017 (H.R. 631) to permanently repeal the estate tax. Senator John Thune introduced companion legislation, S. 205, in the U.S. Senate.
Estate taxes are a pressing problem for family-owned farms. Approximately 90 percent of farm assets are illiquid assets, such as land, buildings and equipment, which leaves few options when it comes to generating cash to pay an estate tax. A repeal of the death tax will allow the family business to continue without having to sell land, livestock or equipment to pay the taxes.
Farm Bureau believes that the estate taxes should be permanently eliminated.
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Governor Terry McAuliffe today announced $4.5 million in new export sales of Virginia soybean products by Perdue Agribusiness to markets in Southeast Asia, an important and growing region with high demand for agricultural inputs from the United States. Soybeans and soybean meal are two of Virginia’s largest agricultural exports, with over $870 million worth of these products leaving the state for international markets in 2016 and over $55 million to the Southeast Asia region. The announcement was made during the 9th annual Virginia Governor’s Conference on Agricultural Trade being held in Richmond. The sale was made as a result of a reverse trade mission of soybean buyers from Southeast Asia, arranged by the Virginia Department of Agriculture and Consumer Services (VDACS) and coordinated by VDACS’ Southeast Asia-based trade representative.
Describing the flawed “Waters of the U.S.” rule as nothing more than a federal land grab,
State agriculture and forestry officials recently outlined some challenges and accomplishments for leaders of the state’s largest farmers’ advocacy organization.
A Feb. 28
On Jan. 9 the U.S. Department of Agriculture began allowing farmers to terminate their Conservation Reserve Program contracts early in order to transfer property to the next generation.
Virginia Farm Bureau Federation
The Virginia Department of Agriculture and Consumer Services (VDACS) announced today that the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS) will conduct their March Agricultural Survey on more than 1,600 farmers in the Commonwealth to determine their plans for the upcoming growing season.
American Farm Bureau President Zippy Duvall: