American Farm Bureau Federation Supports Tax Aspects of Presidents Economic Recovery Plan

The American Farm Bureau Federation, representing three million member families, supports President Reagans plan for economic recovery, including budget reductions, tax cuts, regulatory reform, and stable monetary policy. They specifically support the proposals to reduce personal income tax rates and accelerate depreciation for business investments. The Farm Bureau also urges the Committee to consider repealing or reforming the federal estate tax, as it causes financial hardship for family farms and businesses. They request that their letter and statement of endorsement be included in the hearing record.