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Chairman David Scott Lauds Protection of Stepped-Up Basis in Tax Package

WASHINGTON (September 15, 2021) – House Agriculture Committee Chairman David Scott of Georgia issued the following statement lauding the protection of stepped-up basis in the newest version of the tax package released by the House Ways and Means Committee: 

I have been working tirelessly to ensure that stepped-up basis is protected, and I am very pleased that the package released does not impact the benefit’s operation,” said Chairman David Scott.

The preservation of stepped-up basis will allow family farms and ranches to continue from generation to generation while also protecting them from significant tax burdens. I want to thank the Members of the Agriculture Committee who spoke out on this issue for continuously advocating for our agriculture producers. I also want to thank Ways and Means Committee Chairman Richard Neal and Tax Subcommittee Chairman Mike Thompson for listening to our concerns and the concerns of our family farmers, ranchers and foresters,” Chairman David Scott continued.

Chairman David Scott issued a letter to President Biden on June 2, 2021 on this issue. 

Several House Agriculture Committee Members joined a letter on this issue on May 6, 2021.

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