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Estate Tax Reduced

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Washington, D.C. — From Capitol Hill the House of Representatives passed a bill Thursday reducing the estate tax.

The vote margin was 269-156. California farmers and ranchers hope to convince senators that the estate tax should be entirely repealed. On the whole, California land values are significantly higher than those in other states and family farming and ranching operations would still face a large tax burden even with the $10 million exemption.

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