The House delayed a vote on the $1 trillion infrastructure bill until the end of this month to focus on the $3.5 trillion budget reconciliation package. American Soybean Association President Kevin Scott, who farms in southeastern South Dakota, said the reconciliation bill includes language that is not favorable to agriculture. “They’re going to use agriculture’s stepped-up basis law to fund those things. This will affect our survivability into the next generation with our heirs being forced to sell part of the factory to pay the tax bill.” Scott says it is important for the country to invest in infrastructure, but the ASA does not support bad tax policy.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.