Cotton Newsline: June 15, 2021

Farmers could be facing huge tax bills if President Biden succeeds in raising capital gains tax rates and eliminating a loophole for inherited assets such as farmland according to Senator John Boozman from Arkansas, the ranking member of the Senate Agriculture Committee.

Farmers could be facing huge tax bills if President Biden succeeds in raising capital gains tax rates and eliminating a loophole for inherited assets such as farmland according to Senator John Boozman from Arkansas, the ranking member of the Senate Agriculture Committee. Senator Boozman says the proposals are unpopular in farm country, and he recently released the results from a study the House and Senate Agriculture Committees commissioned from the Texas A&M University Agriculture and Food Policy Center (AFPC). Reece Langley, Vice President of Washington Operations for the National Cotton Council, joins us with more details on the study’s findings.

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