stepped-up basis | Red River Farm Network

Stepped-Up Basis Changes Not Included in $3.5 Trillion Budget Reconcilation

Published September 16, 2021

The House Ways and Means Committee has approved the budget reconciliation rules for the Budget Committee. This language does not include changes to stepped-up basis as had been feared by many in agriculture. House Agriculture Committee Chair David Scott released…

Aggies Concerned About Tax Proposals

Published September 9, 2021

Nearly 300 farm groups have sent a joint letter to congressional leadership, voicing concern about the tax policies in the budget reconciliation bill. The letter says changes to stepped-up basis and estate taxes put family-owned farms at risk. In addition…

Vilsack: Biden’s Tax Changes Won’t Hurt Family Farmers

Published September 9, 2021

In an opinion piece in the Wall Street Journal, Agriculture Secretary Tom Vilsack said the proposed tax law changes will not hurt family farmers. Vilsack said there are special protections built into the plan for family businesses, including a $2.5…

Smith: Stepped-Up Basis Proposal Will Not Impact Family Farms

Published August 30, 2021

There have been questions about the treatment of stepped-up basis in the budget reconciliation bill. Minnesota Senator Tina Smith said this provision will not impact farmers who operating their own land or renting it out. "I understand why farmers are…

Facing the Loss of Stepped-Up Basis

Published July 22, 2021

North Dakota Senator John Hoeven went to the Senate floor Wednesday, outlining his opposition to the White House’s tax proposal. Hoeven cited the administration’s plan to eliminate stepped-up basis for farmers and ranchers. "Under current law when passing down a…

Scott: Tax Proposal May Lead to More Consolidation

Published June 3, 2021

House Agriculture Committee Chairman David Scott is voicing concern about proposed tax changes that would impact farmers, ranchers and small businesses. In a letter to President Biden, Scott cited stepped-up basis and capital gains. Scott said this tax change could…

Details Sought on Tax Proposal’s Impact on Agriculture

Published May 26, 2021

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…

Tax Proposals Seen as a Threat

Published May 12, 2021

A coalition of more than 40 farm groups is voicing concern about President Biden’s tax proposal. In a letter to congressional leadership, these groups emphasized the need for the current estate tax exclusion limits and stepped-up basis. A continuation of…

Proposed Tax Changes May Negatively Impact Farmers

Published April 30, 2021

The American Families Plan includes updates to stepped-up basis and higher capital gains taxes. While USDA clarified farmers and family-owned businesses would be exempt from tax changes, agriculture groups are concerned. "We've had programs that exempted family-owned businesses before, but…

USDA Defends American Families Plan

Published April 29, 2021

USDA has released a statement, touting the benefits of the Biden Administration’s American Families Plan. This plan calls for the elimination of stepped-up basis. However, the Agriculture Department said this change won’t affect family farmers if the farm stays in…

Articles tagged under: stepped-up basis

Stepped-Up Basis Changes Not Included in $3.5 Trillion Budget Reconcilation

Aggies Concerned About Tax Proposals

Vilsack: Biden’s Tax Changes Won’t Hurt Family Farmers

Smith: Stepped-Up Basis Proposal Will Not Impact Family Farms

Facing the Loss of Stepped-Up Basis

Scott: Tax Proposal May Lead to More Consolidation

Details Sought on Tax Proposal’s Impact on Agriculture

Tax Proposals Seen as a Threat

Proposed Tax Changes May Negatively Impact Farmers

USDA Defends American Families Plan

News Categories

Latest RRFN Podcasts

Country Morning

Agriculture Today

Market Analysis

Weather

This Week In Agriculture

TransFARMation

Talking Conservation

Ag Innovation News Presented by AURI

Articles tagged under: stepped-up basis

News Categories

Latest RRFN Podcasts

Subscribe to RRFN