Live Breaking News & Updates on Strong Nutrition Safety Net

Legislative Watch: Biden proposes $6 Trillion budget; USDA budget would increase broadband, research and nutrition funding.
House Agriculture chairman David Scott, D-Ga., is raising objections with the administration s proposal to eliminate stepped-up basis, saying it cannot be borne by the next generation of farmers taking over the land.
Scott wrote in a letter to President Biden, Any increase in inheritance tax for those taking over farm land is untenable and will further strain a farm economy that is just now beginning to recover from the strain of the pandemic.”
He continued: In particular, step-up in basis is a critical tool enabling family farming operations to continue from generation to generation. The potential for capital gains to be imposed on heirs at death of the landowner would impose a significant financial burden on these operations. Additionally, my understanding of the exemptions is that they would just delay the tax liability for those ....

United States , White House , District Of Columbia , David Scott , Nancy Pelosi , Development Capacity For Farmers , Erosion Anti , Supplemental Nutrition Program For Women , House Agriculture , President Biden , Speaker Nancy Pelosi , House Democratic , Budget Request , American Jobs Plan , American Families , Global Minimum Tax Regime , Foreign Fossil Fuel , Foreign Derived Intangible Income , Base Erosion Anti Abuse Tax , Stopping Harmful Inversions , Ending Low Tax Developments , Net Investment Income , Self Employment Contributions Act , Broadband Access , Strong Nutrition Safety Net , Special Supplemental Nutrition Program ,