Farm groups are stepping up the pressure on Congress to reject President Joe Biden’s proposals for increasing taxes on capital gains. More than 40 organizations have signed a letter to congressional leaders, saying the proposals threaten the transition to a new generation of farmers.
Jewel Bronaugh’s nomination is headed to the Senate floor. The Senate Ag Committee used a voice vote Monday evening to send her nomination to be USDA’s next deputy secretary to the Senate floor after Bronaugh, currently the Virginia ag commissioner, took part in an April hearing.
President Joe Biden’s proposal to tax capital gains at death accounts for about one-third of the revenue to pay for his American Families Plan, a sweeping package of education, health and child care benefits. That’s according to an analysis of Biden’s tax proposals by the Tax Foundation.