Trump Terminates The Death Tax
At the American Farm Bureau Annual Convention, President Trump gave a shocking announcement that was received with an excited standing ovation. The announcement? No more death tax from the 2017 Tax Cuts and Jobs Act.
Apparently, our president wanted to focus on farmers because their importance to society and the economy. He studied the effects of their burdens with the law and decided it was doing more harm than good.
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.”