Agricultural News
AFR's Terry Detrick Supportive of House Pass Repeal of Death Tax
Fri, 17 Apr 2015 05:32:02 CDT
The President of the American Farmers & Ranchers/Oklahoma Farmers Union, Terry Detrick, offered the following statement following the passage in the US House of the Death Tax Repeal Act of 2015 on Thursday:
"AFR, in general, certainly favors any relief we can get from the estate (death) tax. We believe it is totally unfair. We've paid taxes on all income it takes to accumulate an estate, then are taxed again at death. When family farm operations are passed on to future generations, Estate Tax Relief is extremely important. Many times, part of the estate has to be liquidated to pay taxes and there is not enough left to maintain a successful operation. I'm always leery, however, of 'gifts' from the government causing me to be leery of unintended consequences. AFR's grassroots, member-driven policy agrees with the U.S. House of Representatives and the Death Tax repeal. Now we must constantly be on guard as to where/how the difference in the budget is going to be made up. I certainly hope they don't rob crop insurance money as proposed by some--that's the only safety net we have."
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