In a 225-200 vote, the U.S. House of Representatives approved a bill providing a so-called “permanent fix” to the estate tax. This tax threatens to force Texas farmers and ranchers out of the agriculture business when family members pass away and leave the land to a new generation.
I am glad Congress is interested in solving this problem once and for all. Furthermore, I hope their attempt to fix this problem will result in a truly permanent resolution. The bill approved would still result in many Texas farmers and ranchers giving 45 percent of their operations to Uncle Sam simply because they died. I took the opportunity to let the Texas Congressional delegation know that Texas producers need more protection from the IRS in order to continue providing a safe, reliable source of food and fiber.
The bill now moves on to the U.S. Senate. You can read my letter by clicking here or by visiting our TDA Web site at www.TexasAgriculture.gov and clicking on Newsroom/Reading Room.