President Trump on the elimination of the estate tax for family farms—ending the IRS—driven foreclosures that forced generations of farmers to sell their land just to pay the IRS:
“With this bill, we will ensure that family farms like his can stay in the family for many generations to come.”
**President Trump:** “Before I got there, because I put this in the first tax bill, as you know. But people would die, they’d leave their farm. There was no cash, but there was value to the farm—sometimes good value. It’s called real estate rich and cash poor. And the kids had no money, and they’d be foreclosed out by a bank. They’d borrow money to pay the estate tax. You don’t have to pay estate tax anymore. That’s pretty big stuff. So for the farmers and for others in small business, it’s great. But James’s family has been working the land for generations, and with this bill, we will ensure that family farms like his can stay in the family for many generations to come.”