By a vote of 240-179 largely along party lines, the U.S. House voted Thursday to repeal the federal estate tax, better known by opponents as the “death tax.”

Co-sponsor Rep. Adrian Smith (R-NE) told his colleagues that repealing the tax is a top priority for farmers and ranchers in his state and around the nation. “Agriculture, particularly raising cattle and crops such as corn, is a land and capital intensive process…their assets are the land and equipment they use to help feed our nation and the world,” said Smith.

“The estate tax is a disservice to agriculture because we are a land-based, capital-intensive industry short of funds, and with few options for paying estate taxes when they come due,” said National Cattlemen’s Beef Association President Philip Ellis. “Unfortunately, all too often at the time of death, farming and ranching families are forced to sell off land, farm equipment, parts of the operation or take out loans to pay off tax liabilities and attorney’s fees. We urge the Senate to act soon and vote for full repeal of the death tax to prevent an undeserved death sentence to many family-owned farms and ranches.”

The bill reportedly has little chance of passage in the Senate and faces a presidential veto threat, but most agricultural organizations were pleased to see the House action.