Tax rate reform
President Trump touted the recent tax reform package, telling the 4,400 AFBF members they’ve put together $5.5 trillion in tax cuts, “with most of those benefits going to working families, small businesses and the family farmer.” He added, “Under the tax cuts we passed, Americans will be paying less in taxes and keeping more of their own money. We’ve lowered rates, doubled standard deduction and doubled the child tax credit. The typical family of four will see their income tax cut by $2000 each.
“From now on, most family farms will be spared punishment of the deeply unfair estate tax so you can keep your farms in the family.”