By Little Apple Times |
Mar 14, 2024
U.S. Representative Tracey Mann (KS-01) has voiced his concerns over President Biden's proposed Fiscal Year 2025 budget and revenue proposals, specifically highlighting the threat posed to the agricultural community by the potential elimination of the stepped-up basis and the introduction of 'marked-to-market' capital gains taxes on longstanding family-owned farmland. In a statement, Rep. Mann emphasized the impact of these tax changes on generational farmers, stating, "Taxing the unrealized gains of generational farm assets threatens the livelihoods of the people who feed,...