Romney promises end to estate tax

Republican presidential candidate Mitt Romney was in Iowa at a family farm Tuesday. The former Massachusetts governor differentiated his and President Obama’s stances on various farm issues.

Visiting the farm of Margaret and James Koch near Van Meter, Iowa, Romney vowed to do away with the estate tax, which some refer to as the “death tax,” paid by farmers and small business owners when their property is passed to surviving spouses and children. He also talked about his plans for expanding trade, as well as mentioning current government overregulation, and the need for the U.S. to be energy independent.

In remarks prepared for delivery on the Koch farm, Romney says farmers and ranchers have to cope with natural disasters; they shouldn’t have to battle man-made disasters of taxes and over-regulation.

The Romney campaign also announced its Iowa Farmers for Romney coalition led by several Iowa Republican political figures as well as an advisory panel made up of more than 70 farmers and their spouses.

The GOP presidential hopeful also vowed to help get the farm bill passed, according to various news reports. It is likely that the legislation will not be dealt with until after the election.

Romney spoke to a crowd of about 1,000 people.

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