Statement by Texas Farm Bureau President Russell Boening on Death Tax Repeal Act of 2015
“The House vote today to permanently repeal the death tax is a huge step toward maintaining the integrity of farms, ranches and small businesses across America. Thanks to Congressman Kevin Brady for sponsoring HR 1105, the Death Tax Repeal Act of 2015, and those members of the Texas delegation who voted for this important legislation.
"While recent actions provided some relief from this onerous tax, total repeal is better. Farmers and ranchers are rich in capital assets, such as land and equipment, but often poor in liquidity. After a death, remaining family members many times have to sell their assets just to pay the taxes. With those assets go hopes, dreams and the family business.
"We urge the Senate to act soon and vote for full repeal of the death tax to ensure future generations of farmers and ranchers can continue the business of growing food and fiber.”