North Dakota Senator John Hoeven, Agriculture Committee Ranking Member John Boozman and six of their Republican colleagues are asking Agriculture Secretary Tom Vilsack to explain the Biden Administration’s proposed tax policy and its impact on capital gains tax rates and stepped-up basis for farmers and ranchers. Vilsack has said 98 percent of U.S. family farms will not be impacted by the proposed changes, but the lawmakers want the data to verify that claim.
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