A Wisconsin dairy farmer is critical of President Biden’s proposed tax changes. Kevin Krentz is Wisconsin Farm Bureau’s president and operates a dairy farm near Berlin in Waushara County. He says Biden’s planned inclusion of the Sensible Taxation and Equity Promotion Act by Representative Bill Pascrell and Senator Chris Van Hollen in the Bipartisan Infrastructure framework has the potential of generating billions of dollars in federal revenue by restricting the ‘stepped-up basis’ that currently reduces liability on inherited property, but Krentz says this incredible tax burden would make continuing on the family farm extremely costly.
