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Taking advantage of what people are not aware of.

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A commercial on passing the family ranch or farm to the next generation is deceiving.

Currently families that want to pass on the family ranch or farm will pay no "death tax" on the value of the ranch or farm up to $11.5 million for a single taxpayer or $23 million for a joint taxpayer. Biden's Build Back Better Plan is proposing to scale the exempted amount back to about $6 million for a single or $12 million for a joint transfer. With the change in the tax law, how many people would have to pay more tax on transferring the ranch or farm to the next generation? At these reduced levels I don't think too many that we know of.

The taxpayers who will be paying more will be the people that got all the tax benefits under the last changes in tax law. It wasn't the middle class.

Bert Mahon, Corvallis


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