Source: Jacqui Fatka, FARM PROGRESS, 9/14/21


After months of ag interests voicing concerns about suggested tax changes to the step-up in basis to help pay for the $3.5 trillion reconciliation package, farmers can breathe a sigh of relief that the House Ways and Means Committee’s draft bill released Monday preserves stepped-up basis. However, concerns remain for farmers as the package lowers the current estate tax exemption from levels passed during the Trump administration. 

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