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Source: US HOUSE AG COMMITTEE, 9/15/21
House
Agriculture Committee Chairman
David Scott of Georgia issued the following statement lauding the
protection of stepped-up basis in the newest version of the tax package
released by the House Ways and Means Committee: “I have been working tirelessly to ensure that stepped-up basis is protected, and I am very pleased that the package released does not impact the benefit’s operation,” said Chairman David Scott. “The
preservation of stepped-up basis will allow family farms and
ranches to continue from generation to generation while also protecting
them from significant tax burdens. I want to thank the Members of
the Agriculture Committee who spoke out on this issue for
continuously advocating for our agriculture producers. I also want to
thank Ways and Means Committee Chairman Richard Neal and Tax
Subcommittee Chairman Mike Thompson for listening to our concerns and
the concerns of our family farmers, ranchers and foresters,” Chairman David Scott continued.
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