People who were at the American Farm Bureau Annual Convention gave President Trump a standing ovation after he announced the end of the death tax in 2017’s Tax Cuts and Jobs Act.
According to Breitbart “The president focused on the effect on farmers of reduction of regulatory burdens and change in the estate tax under the new tax law:”
Here is the Presidents statement, “All American businesses, including American farmers, will be able to deduct 100% of the cost of new equipment in the year you make the investment. That is something that I think is going to be the sleeper of the bill, you deduct it all in one year as opposed to over many years, that’s a tremendous thing.”
“And from now on, most family farms and small business owners will be spared, and you’re gonna be spared and it really is the word punishment, of the deeply unfair estate tax known as the death tax — so you can keep your farms in the family.”