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.”
