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Senate bill reduces estate tax rate

Missouri Senator Roy Blunt is co-sponsoring a bill that would reduce the estate tax to 20-percent. Blunt says that is equal to the capital gains tax rate.

He says the measure would bring relief to family farms and businesses who often suffer “a crushing blow” from the current estate tax rates as they try to transition their operations to the next generation.

Cosponsors of the “Estate Tax Rate Reduction Act” are Senators Tom Cotton and John Boozman of Arkansas.