Death Tax Repeal has Support

The Death Tax Repeal Permanency Act has 35 co-sponsors. This legislation would permanently abolish the federal estate tax, better known by ranchers, farmers, and family business owners across America as the “death tax.” The tax is currently set at a 35 percent tax rate with a 5-million dollar exemption. In 2013, the estate tax rate is scheduled to increase to 55 percent with a one-million dollar exemption.

One of the sponsors, Senator John Thune, calls the death tax – destructive, misguided, and inefficient, and he says – our economy, small businesses, family farms, and ranches that are expected to be transferred to future generations will benefit enormously from its demise. Another co-sponsor, Senator Mike Johanns points out – the loss of a family member should not be a taxable event, and Americans should not be forced to sell the family business, farm or ranch just to pay it.

According to a study by Douglas Holtz-Eakin, the former director of the non-partisan Congressional Budget Office, repealing the death tax could create 1.5 million additional small business jobs and decrease the national unemployment rate by nearly one percent. is dedicated to serving the agricultural industry in the Carolinas and Virginia with the latest ag news, exclusive regional weather station readings, and key crop market information. The website is a companion of the Southern Farm Network, provider of daily agricultural radio programming to the Carolinas since 1974. presents radio programs, interviews and news relevant to crop and livestock production and research throughout the mid-Atlantic agricultural community.