Source: Jacqui Fatka, FARM PROGRESS, 5/17/21


As the discussion of estate taxes continues to be discussed within the infrastructure proposals and Biden’s American Jobs Plan and American Families Plan, Congressional members introduced the Estate Tax Reduction Act, legislation to reduce the estate tax to 20%—half of the current top rate of 40%. This bipartisan, bicameral legislation was introduced by Sen. Joni Ernst, R-Iowa, along with Sens. Tom Cotton, R-Ark., and John Boozman, R-Ark., and in the House by Reps. Jodey Arrington, R-Texas, and Henry Cuellar, D-Texas.

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