Joe Pitts: “the small family farm is quickly becoming an endangered species in this Nation. And with farmers being hit by the…”

“the small family farm is quickly becoming an endangered species in this Nation. And with farmers being hit by the inheritance tax or what we should call the death tax, it is no surprise. Many family farmers work hard their whole lives struggling to make ends meet as they feed not only their own families, but families around the world. But instead of showing gratitude to farmers for their lifetime of work, our government instead punishes these farmers when they pass their farm on to the next generation. When a farmer dies, the Federal Government assesses a tax of up to 55 percent on the value of his or her farm. This is ridiculous. It is tragic. For many people, the American dream is to build up a business or a farm and then pass it on to their children. Yet many times the children have to sell the farm just to pay the taxes. Death should not be a taxable event. We are losing our farms. We should repeal the death tax. I urge all of my colleagues to work towards this end. Farmers deserve a thank you, not an IOU.”