News
Cheney and Colleagues Introduce Legislation Protecting Family-Owned Farms, Ranches, Businesses
Congresswoman Liz Cheney (R-WY) joined more than 70 of her colleagues in introducing a bipartisan resolution recognizing the important role of the stepped-up basis in preserving family-owned farms, ranches, and small businesses. A long-standing provision in the tax code, the stepped-up basis prevents heirs from paying capital gains taxes on inherited assets such as land, equipment, or buildings. Cheney said the stepped-up basis is an important provision of our tax code that helps ranchers, farmers and small businesses pass their assets on from generation to generation. She said our agriculture industry and small businesses have suffered during this pandemic, and should not be saddled with more government overreach and higher capital gains taxes.
According to information from the U.S. Department of Agriculture, 98 percent of all farms are family-owned. If the stepped-up basis is eliminated, 68 percent of all mid-sized farms would experience an increased tax liability. The resolution is supported by the National Cattlemen’s Beef Association, American Farm Bureau Federation, National Corn Growers Association, American Soybean Association, USA Rice, National Grange, and National Council of Farmer Cooperatives.
Clark Guelde
April 14, 2022 at 7:04 am
I think the Cheney’s own a small business themselves, some outfit called Halliburton.
Thomas Jones
April 14, 2022 at 8:13 am
Let them be recognized!….but dont actually do anything for them. Perhaps liz should take a look at the Ukrainian nazi battalions that the US is funding and arming. Or maybe investigate why there were 20+ FIB assets on the ground on J6, and what their function was. Entrapment?
Harriet Oleson
April 14, 2022 at 10:31 am
My Goodness !! Do you honestly believe all that organic fertilizer you wrote in this post???
Thomas Jones
April 14, 2022 at 10:54 am
Unlike you, I dont rely on The View for my news source. The first part is history (see the azov battalion), the 2nd part is the defense discovery from the J6 selfie trials. Entrapment. This is why 2 “anarchists” were freed from the MI whitmer “kidnapping” case. Since I cant post links, you can easily look this stuff up yourself. Enjoy!
mike duncan
April 14, 2022 at 11:09 am
organic fertilizer is commonly called FACTS. Hey ,, how did the case go with those guys charged with trying to kidnap the Michigan Governor ?? Got any organic fertilizer on that Harriet? Looks like another FBI driven act to me
Debbie Davis
April 14, 2022 at 10:54 am
Thomas you are spot on. Harriet you have tunnel vision and should do some research. Liz is just grasping at straws trying to maintain her political position. She could care less about Wyoming! She is a RINO. Good riddance to her hopefully in the next election!!
Harriet Oleson
April 14, 2022 at 12:47 pm
Thomas, Mike, Debbie…The earth is flat, we never were on the moon, but a cow jumped over it and Jan 6th was legitimate political discourse just a few more fairy tales you can believe in. Seems very easy for you”all,