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Hinson Statement on Administration's Push to Eliminate Stepped-Up Basis

September 10, 2021

Washington, D.C. - Congresswoman Ashley Hinson (IA-01) released the following statement on the Administration's push to repeal stepped-up basis. Yesterday, Hinson held a listening session with farmers to hear more about how this tax hike would impact them.

"The Administration's claim that repealing stepped-up basis won't hurt family farmers is patently false and out of touch. Yesterday, I hosted a listening session and heard directly from several farmers who told me that if this tax hike was enacted, it would hurt their business’s ability to grow, and would put the future of their farms in jeopardy. This tax hike would rip land from the hands of Iowans that have put generations worth of blood, sweat, and tears into their farms and shouldn’t face massive tax hikes as thanks for their hard work to feed and fuel the world.

"The misconstrued column in the Wall Street Journal by USDA Secretary Tom Vilsack doesn't change the facts: eliminating stepped-up basis would crush family farms and rural small businesses. It threatens our entire rural economy in some towns. As the Administration is putting its foot on the gas and doubling down on this misguided proposal, I'll continue to fight tooth and nail against it." Congresswoman Ashley Hinson
 

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