From May 6, 2021 post
Congressman August Pfluger (TX-11) joined over 130 House Republicans in sending a letter to House Speaker Nancy Pelosi and Republican Leader Kevin McCarthy opposing the Biden Administration’s proposal to repeal stepped-up basis from the tax code and require payment of capital gains taxes at death.
“President Biden’s plan to eliminate stepped-up basis allowances and impose a death tax will deal a devastating blow to rural America,” said Congressman Pfluger. “His proposal will heap massive tax burdens on farm and ranch families, who are already struggling through an over-five year farm recession. American agriculture is paramount to National Security, which is why I am urging President Biden to immediately reconsider this proposal and ensure farm families can continue producing the food and fiber we need to clothe and feed our Nation and the world.”
Original source can be found here.
