The Ranking Member of the Senate ag committee warns the battle to stop the Biden administration from raising taxes is far from over. Senator John Boozman from Arkansas says, “If you remove stepped-up basis, everything else is pretty unimportant. It simply would be devastating to the small and medium-sized farmer.”
Boozman tells Brownfield the U.S. House left out changes to the stepped-up basis in their recent spending bill because of pressure from farm and business groups, but it doesn’t go away.
