Donald Trump: «The great and beautiful bill will also be an incredible victory for American farmers, another group we did very well with—especially family farmers like James Cullifer from Virginia Beach.
Our bill will allow a 100% deduction so they can buy a new farm or new farming equipment. And by the way, the deduction is good for everyone, not just farmers.
And it will virtually eliminate the so-called estate tax or death tax.»
The “great and beautiful bill” will benefit American farmers in the following ways:
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100% Deduction: It will allow farmers to fully deduct the cost of purchasing new farms or agricultural equipment, reducing their tax burden and making it easier to invest in their operations.
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Wider Benefit: Although especially designed for farmers, the deduction will also apply to other sectors, expanding its economic impact.
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Elimination of the Estate Tax: The bill will virtually eliminate the so-called “death tax,” allowing family farms to be passed down without excessive tax burdens, thus protecting generational continuity in agriculture.
In summary, this bill aims to strengthen the agricultural economy and protect American family farmers.
