ET Non-Affect on Farms: NY Times and CBPP Weigh In

Sunday's New York Times included an article discussing the findings of the estate tax report released by the CBO last friday. The article notes that the number of farms owing the estate tax when the owners die has fallen by 82 percent since 2000. The number has fallen to 300 farms. The estate tax raised an estimated $23.4 billion last year from the richest 1 percent of Americans. Responsible reform, as opposed to repeal, is necessary in order to ensure this continued source of much-needed revenue. For more information, also see this new Center on Budget and Policy Priorities analysis of the CBO report.
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