Newest tax proposal in Washington won’t impact most farmers today, but tax expert warns it could...
Story Date: 10/28/2021

 

Source: Tyne Morgan, AGWEB, 10/26/21


Senate Democrats are pushing for a new tax proposal this week in order to help fund two impending spending bills in Washington D.C. What’s being proposed is called The Billionaires Income Tax, and it will do just that: impose a tax on billionaires. One farm tax expert thinks the proposed tax changes tied to the plans could turn into a trojan horse for farmers.  As Democratic leaders in the House work to secure a vote on the $1 trillion bipartisan infrastructure plan yet this week, legislators are also hoping to reach an agreement on Biden’s Build Back Better Act. In total, the spending package comes with a price tag of $2 trillion...

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