Beltway Beef Audio News
2011 is now history and NCBA’s Washington, D.C., staff is ready to tackle top priority issues in 2012. Although NCBA staff members will receive their marching orders from NCBA's grassroots membership during the 2012 Cattle Industry Convention and NCBA Trade Show in Nashville, Tenn., Feb. 1-4, the top NCBA priority for this year is expected to be estate tax reform.
According to NCBA Manager of Legislative Affairs Kent Bacus, the estate tax, commonly referred to as the death tax, is one of the leading causes of the breakup of multi-generation family farms and ranches. In December 2010, Congress passed temporary estate tax relief effective through Dec. 31, 2012. For now, estates worth more than $5 million per individual or $10 million per couple are taxed at a 35 percent rate.
NCBA supports the Death Tax Permanency Repeal Act, introduced by Congressman Kevin Brady (R-Texas). Bacus says if a full repeal is not possible, the next best option is to make the 2010 package permanent.
Beltway Beef Commentary - NCBA Top Priority (1.3.2011) by Beltway Beef