The tax reform package passed by Congress and awaiting the president's signature includes many provisions that will help Oregon's farm and ranch families.

"This bill lowers taxes for the vast majority of our agricultural families," said Oregon Farm Bureau President Barry Bushue.

Bushue points out that the bill simplifies rate structures and eliminates the death tax for estates under $11 million while maintaining annual indexing for inflation, which covers nearly all family ag operations. The bill preserves important tools, such as cash accounting, stepped-up basis, deductions for business interest, and carry forward of net operating losses.