Working Families Tax Cuts: tax support for family farms

Official statement from the U.S. House Committee on Ways and Means on the Working Families Tax Cuts. The source states that the law made permanent and enhanced the estate tax exemption, raising it to USD 30 million for married couples, with the aim of protecting family farms and facilitating the transfer of land, equipment, and farm operations to the next generation. It also mentions small business deductions, lower borrowing costs, rural opportunity zones, and immediate expensing for machinery and equipment.