CONTACT:        Tanya Augustson   (202) 347-0228    taugustson@beef.org

                        Karen Batra           (202) 347-0228    kbatra@beef.org

NCBA Releases New Death Tax Repeal Analysis
‘Permanent Repeal is Most Beneficial Option for Cattlemen’

Washington, D.C. (August 18, 2005) – The National Cattlemen’s Beef Association (NCBA) is announcing the release of a 10-page analysis document for cattle producers regarding permanent repeal of the Death Tax. The NCBA analysis can now be found online at: hill.beef.org/deathtaxanalysis2005 or www.beefusa.org/DeathTaxAnalysis2005.aspx or by contacting NCBA’s Washington, D.C., office at the number listed above.

“Tax legislation can become extremely confusing, and we need to clear up any uncertainty among farmers and ranchers regarding what the future holds for their family operations,” says Clark Willingham, one of the co-authors of the document, Texas cattle producer and a past NCBA president. “This analysis does just that.”

The U.S. Senate is expected to vote on permanent repeal legislation in early September after returning from the August recess. NCBA is a long-time supporter of full repeal, but compiled the new analysis to examine details of how various outcomes could affect cattle producers in the long-term.

“A few groups who are in opposition to the upcoming vote on full repeal legislation are now suggesting farmers and ranchers consider compromise in lieu of full repeal,” says NCBA Vice President of Government Affairs, Jay Truitt.  “There is NO such thing as compromise on the Death Tax, and this analysis explains why, number by number. Full repeal of the Death Tax is the only option that cattle producers can support.”

“We ask farmers, ranchers, media, government officials, and any interested in tax policy to check out this analysis,” says Willingham. “Full and permanent repeal is clearly the only alternative that will foster long-term sustainability for cattle operations and ultimately relieve all cattle producers from this hefty taxation at the time of death.”

Since the Economic Growth and Tax Relief Reconciliation Act of 2001 passed into law on June 7, 2001, the Death Tax is on a gradual phase-out schedule, ultimately ending with full repeal in 2010.  But in 2011, thanks to a ‘sunset clause,’ the Death Tax will be re-instated at 55 percent and only $1 million exemption. NCBA will continue to urge members of the U.S. Senate to vote in favor of H.R. 8.  

###