capital gains tax

AFB President Disputes Administration Claims on New Capital Gains Tax

Dan Corn, Field Crops, Legislative, Regulation, Soybeans

American Farm Bureau President Zippy Duval pushed back against the Biden administration’s stance that most small family farmers will escape a proposed capital gains tax to replace the so-called “stepped-up basis.” Duval disputed the claim that a $2 million per couple exclusion on the gain on farm assets and that passed onto children, will let most off the hook on …

senate tax

Farmers and Ranchers Push for Comprehensive Tax Reform

Dan Industry News Release

Tax policies to support and preserve agriculture are essential to every farmer and rancher in America, a group of Farm Bureau members in Washington, D.C., this week to meet with lawmakers say. “Tax reform is critical for farmers and ranchers,” said Isabella Chism, a corn and soybean farmer and Farm Bureau member from Indiana who is vice chair of the …

Tax Reform by August Unlikely

Dan Industry News Release, Legislative

Treasury Secretary Steve Mnuchin (mi-new-chin) says getting tax reform legislation on the President’s desk by August appears unlikely. Mnuchin told the Financial Times this week the tax reform timeline is “highly aggressive to not realistic at this point,” in referring to his prior comments on finishing tax reform by August. He cites health care reforms as the delaying factor, but …