Two members of Congress say there’s still a lot of uncertainty surrounding proposed tax policy changes.
Ranking member of the House Ag Committee Glenn “GT” Thompson says a recent study from Texas A&M Food Policy Institute showed proposed changes to tax policy would raise taxes $1.4 million on 98% of representative farms. “The question is if you have a ranch or farm, what part of your farm do you sell off in order to raise $1.4 million to buy back our operation from the federal government and still have an agriculture operation?”
He tells Brownfield the study caused the Biden administration to reevaluate the impact of the proposed changes to tax policy, it may have delayed the inevitable.
