NCBA Delivers Preserving Family Farms Act: A Permanent Solution to a Generational Issue
The Preserving Family Farms Act of 2021 was introduced by U.S. Representatives Jimmy Panetta (CA-20) and Jackie Walorski (IN-2). NCBA has long supported efforts to reduce undue tax burden on farmers and ranchers. This bipartisan legislation to expand IRS Code Section 2032A would allow cattle producers to take advantage of the Special Use Valuation and protect family-owned businesses from the devastating impact of the federal estate tax, commonly referred to as the Death Tax.
“We thank Representatives Panetta and Walorski for their leadership and dedication to protecting future generations of agricultural producers through the introduction of the...
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