Struggle over tax break for inherited farmland churns below surface in reconciliation bill
Story Date: 9/23/2021

 

Source: Daniel C. Vock, SUCCESSFUL FARMING, 9/21/21

 Agricultural groups and farm-state lawmakers notched a significant win when U.S. House Democrats chose not to touch a big tax break for inherited property, avoiding for now a confrontation. But opponents remain wary that the idea could come back at any time as Democrats shape their massive $3.5 trillion budget reconciliation package, and search for ways to help pay for the most significant expansion of the social safety net since the New Deal. Farm lobbies and Republicans, along with influential Democrats like House Agriculture Chairman David Scott of Georgia, strongly objected to tax changes...

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