The proposed tax bill, which the Senate will vote on on Friday, December 8, has been promoted as a boon for family farms. One of its proposed provisions is the estate tax exemption, which advocates claim will allow families to more easily pass on farming businesses. According to the Tax Policy Center, however, the exemption will only impact couples whose assets exceed $10.98 million—a total of 50 farms nationwide. The bill has not yet been finalized, so watch C-SPAN and the Senate channel for updates.
Read more via Politico here.