House Agriculture Committee Chairman David Scott of Georgia recently penned a letter to the President outlining concerns of tax policy contained in the American Jobs Plan. He’s mainly concerned about elimination of the stepped up basis which is critical for agriculture. He shares the concern of corn growers according to NCGA President and Ohio farmer John Linder.
He says while everyone wants economic recovery which is intended in the American jobs plan really can’t be achieved if stepped up basis is eliminated and taxes are raised to pay for it.
Linder says having Scott’s support on this issue is positive in that it gives corn farmers and others in agriculture hope they have an advocate weighing in for them with the administration.
Scott says while he backs the American Jobs Plan and American Families plan worries that the proposals to increase taxes in them will hurt farmers.
