Revised May 24, 2002

Estate Tax Affects Very Few Family Businesses

Note:  This report has been revised and updated "Estate Tax Affects Very Few Family Businesses"

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On February 6, the Center on Budget and Policy Priorities issued an analysis, "Estate Tax Repeal: A Costly Windfall for the Wealthiest Americans." The report shows that, contrary to popular impression, today's estate tax has little impact on the vast majority of small businesses and family farms. Solving the problems of the relatively few small businesses and farmers that are affected does not require repealing the estate tax in its entirety. The report makes the following points:

Providing relief for family farms and businesses can be done without wholesale repeal of the existing estate tax laws: