Issue Position: Agriculture - Protecting Family Farms

Issue Position

Issue Position: Agriculture - Protecting Family Farms

Congressman Hastings believes the death tax is a form of double taxation and is simply unfair. That's why he is a cosponsor of proposals to permanently repeal the death tax so that family farms can be passed down to children and grandchildren.

In 2001, Congress approved a gradual phase-out of the death tax. However, because opponents in the Senate time-limited this tax relief, the death tax will come back to life at the full rate again in 2011. This means that family farmers will once again be assessed a tax on the value of their property at the time of their death, despite having paid taxes throughout their lifetime.

The last thing farmers and ranchers should have to worry about when a loved one dies is selling the family farm in order to pay the Internal Revenue Service. Unfortunately, that is the situation hardworking farm families could face if the death tax is not permanently abolished.

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