After concluding his 39 County Tour for 2021 -- visiting all 39 counties in Iowa’s 4th District at least twice so far this year -- Rep. Randy Feenstra (IA-04) spoke on the House floor to discuss one of the issues he heard about most.
“In Palo Alto County, I met a 6th generation farmer who is concerned about President Biden’s plan to eliminate stepped-up in basis, which would threaten his family farm,” Rep. Feenstra said. “I heard this concern everywhere I went, which is why I fought so hard to put a stop to this supercharged death tax.”
"I’ll continue being a passionate advocate for the 4th District, especially when it comes to defending the men and women who feed and fuel the world," Feenstra concluded.
Background
As a member of the Agriculture Committee, and as the former chair of the Iowa Senate Ways and Means Committee, Feenstra has raised concerns about proposed tax changes -- including to stepped-up basis and like-kind exchanges -- and the adverse impact they would have on family farmers. He started warning about changes to stepped-up basis in April, and in early August, he led nearly 90 of his colleagues in sending a letter to President Biden on like-kind exchanges.
During the Agriculture Committee's markup on the Democrats' $3.5 trillion tax and spending legislation, Feenstra led an effort to ensure family farmers would not face tax hikes under this bill. Democrats rejected that effort, instead moving forward with a tax plan that rolls back death tax protections. Feenstra highlighted Democrats' plan to expand the death tax during the Budget Committee markup over the weekend.
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