Bipartisan bills call for elimination of the estate tax

Published: Mar. 17, 2021 at 7:22 AM CDT
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EAU CLAIRE, Wis. (WEAU) - New bills introduced in Congress last week are getting a lot of support in farm country. The bipartisan bills call for eliminating the estate tax by calling for a complete repeal of that tax. One of the leading supporters of the bill is the American farm Bureau federation which claims the current tax threatens more than 74 thousand family farms and nearly half of all farmland in the country. The 2017 tax law changes temporarily doubled the estate tax exemption to $11 million per person through 2025. But if no changes are made that exemption will fall to 5 and a half million dollars after that.

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