Eight Nebraska Ag Groups met recently with their Congressional Delegation voicing concern at the President’s tax policies particularly his intention to have Congress eliminate the stepped up basis. Past Nebraska Cattlemen Association President Ken Herz says lowering the current estate tax exemption which the House Ways and Means Committee did this week is another example of the administration’s tax policies hurting agriculture as well as the overall economy.
He says the administration’s policy of overspending and using higher taxes to fund that hurts everyone, ag and non ag interests alike.
The House Ways and Means Committee did not include elimination of stepped up basis in their advancing of the budget bill. Herz says that’s positive but the concern is the possibility that elimination attempt could resurface.
Joining Nebraska Cattlemen in opposing the President’s Tax plan are the Nebraska Farm Bureau, Corn Growers, State Dairy Association, Grain Sorghum and Soybean Associations, and Pork Producers and Wheat Growers Associations.
