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Matt Russell Named as Iowa Farm Service Agency Executive Director
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Global insurance industry could play a significant role in addressing climate change risks
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Global insurance industry could play a significant role in addressing climate change risks
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Des Moines Register
Legislation intended to force the nation s richest Americans to pay taxes on inherited fortunes would instead drive hard-working farmers to sell land that families have owned for generations, ag and business groups say.
Five leading U.S. senators, including former Democratic presidential candidates Sens. Cory Booker of New Jersey and Elizabeth Warren of Massachusetts, proposed legislation last month that they say would close a loophole that allows wealthy Americans to sidestep paying taxes on massive inheritances. It could potentially impact farmers, whose valuable land would be taxed when passed on to the next generation.
Sen. Bernie Sanders, a Vermont Independent, said it s absurd that many of the country’s wealthiest people never pay a cent of capital gains taxes on millions or even billions they inherit, while working people pay taxes on every check they receive.”