Corn Growers Welcome Stepped-Up Basis Defense


U.S. House Agriculture Committee Chairman David Scott (D-GA) sent a letter yesterday to President Biden expressing his concerns to proposed changes in tax policy that would eliminate the stepped-up basis provisions used by farmers. The letter resulted from a conversation Chairman Scott had with the Corn Board last month on taxes and other priorities.

“We appreciate Chairman Scott’s leadership on preserving the stepped-up basis protections in the tax code for America’s corn farmers and stand ready to help him defend our farms and families from harmful taxation,” said NCGA President John Linder.