Republican ag committee leaders say a new study shows the potential “devastating impact” of inheritance tax changes on family farms.
Senator John Boozman, ranking member of the Senate Ag Committee, and Congressman Glenn GT Thompson, ranking member of the House Ag Committee, asked the Agricultural and Food Policy Center at Texas A&M University to analyze legislation introduced in the Senate that would change tax liabilities of transitioning farm and ranch estates.
Thompson says the report shows clear and significant tax increases for farmers.
