While it appeared earlier this week that the House would likely move forward on a one-year extension of the current estate tax law, the National Cattlemen's Beef Association (NCBA) is encouraged by recent indications that proposals for more permanent reform could be considered before the end of the year. However, it remains unclear what type of meaningful reform could move forward in the limited time remaining on the legislative calendar.

"When many businesses are struggling just to stay afloat, a simple extension of current law is unacceptable," said Jill Davidsaver, NCBA manager of legislative affairs. "Farmers, ranchers and other small businesses need permanency so they can plan for the future of their estates." NCBA continues to support legislation to increase the exemption level, decrease the rate of taxation, and exempt working farm and ranch land from the tax. "Both of these types of reforms are critical," continued Davidsaver. "Because at the end of the day, all our members really want is to keep their farms and ranches in production and hand them down to future generations."

For more information, visit:

http://www.beefusa.org/NEWSNCBAMemberTestifiesDuringCongressionalEstateTax Hearing39805.aspx