Political Quotes

On the recordSeptember 29, 1997
What we are able to do under this new inheritance tax law is $1.3 million, I think that is the right figure, will be the exemption from the inheritance tax. So instead of having to sell the family farm to pay the estate taxes of the deceased, we are going to be able to have the family farm or the family-owned small business that had been worked on for years now carried forward to the sons and daughters, so they can carry on the family business without having all of the money that the farm is worth, or the business, going up in taxes.
Said by
Jon Fox
Republican · Pennsylvania
Source
govinfo.gov

Editor's note · Context

Discussing the impact of the new inheritance tax law on family farms and small businesses.

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