D.C. Watch: Lawmakers push to repeal the estate tax
Last January, Congress passed what was considered to be a permanent 40 percent rate for the estate tax and a $5.25 million asset exemption per individual.
The exemption is indexed to inflation in future years. But now several lawmakers have reintroduced legislation that would repeal the estate tax altogether.
Senator John Thune, R-S.D., one of the key proponents of the effort, says the bill would result in about $20 billion in lost revenue, but that the measure would stimulate more economic growth and jobs.
Many agriculture groups are in favor of getting rid of the tax, but passage is unlikely at a time when the main focus is reducing the federal deficit.
- Boxers or Briefs? Underwear buried to demonstrate unhealthy soil
- Tire makers race to turn dandelions into rubber
- Toro releases guide for using micro-sprinklers for IPM
- USDA to fund $25 million in value-added producer grants
- Crop futures mostly higher, livestock prices stabilizing
- Suppress Palmer pigweed with a ryegrass cover crop
- Deere to lay off more than 600 at four U.S. plants
- Slow pace of rail recovery stirs fear of future woes
- The four pillars of seeing opportunities in problems
- New DuPont Afforia herbicide introduced for soybeans
- Cooperative exits retail and automotive business
- RTK brings higher level of accuracy to farmers
- No El Niño in 2014? Drought-weary California in trouble
- Suspected Bt corn rootworm resistance in Pennsylvania
- BioNitrogen to build second fertilizer plant in Texas
- Commentary: Setting the record straight on 'Waters of the U.S.'
- Soybean aphid numbers on the rise
- Solar energy jobs increase, wind power decrease