The American Farm Bureau Federation (AFBF) is urging Congress to maintain capital gains rates at the current 15 percent level and strongly backs legislation introduced Tuesday that would eliminate the sunset of the current tax rate for capital gains and dividends.According to AFBF President Bob Stallman, "the bills introduced in the Senate by Sen. Mike Crapo (R-Idaho) and in the House by Rep. Peter Roskam (R-Ill) will provide greater tax certainty for America's farmers and ranchers." "Farm Bureau calls on Congress to pass these important bills introduced by Sen. Crapo and Rep. Roskam."
Under current law, the top long term capital gains tax rate will rise to 20 percent on Jan. 1, 2013.
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Posted 10/11/2011
