The American Farm Bureau Federation says estate taxes are a threat to family farms and current estate tax exemptions are at risk this election.

Estate tax exemptions like the Jobs Act are set to expire after 2025 which would drop the tax exemption amount from over $11.5 million to $5 million and AFBF Chief Economist John Newton said under a Biden administration the exemption amount could drop even further.

He tells Brownfield Biden hasn’t released a comprehensive proposal…

“However, at different points in the campaign he has signaled his position on the key elements of a future plan and has expressed support for returning the estate tax to the levels we saw in 2009,” Newton said.

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