WASHINGTON– U.S. Senator John Boozman (R-AR), Ranking Member of the Senate Agriculture Committee, continues to call on President Joe Biden and congressional Democrats to abandon their reckless tax and spending spree that leaves hardworking Arkansas agriculture producers to foot the bill.
“These payfors would be devastating to American agriculture,” Boozman said about the plans that would burden farmers and ranchers.
Boozman has been leading the fight against tax code changes proposed by the White House to pay for a wish list of partisan priorities. The senator highlighted an analysis by the Agricultural and Food Policy Center at Texas A&M University that shows the president’s proposed inheritance tax changes would impact family farms and ranches. Researchers found that nearly 98 percent of family farms surveyed would be hit with an additional tax liability of more than $720,000.
Boozman has called Biden’s proposals a “massive burden on farmers and ranchers” and an “unfair hit to family farmers.” He has also joined Republican Senators in a letter urging the administration to withdraw its effort to impose a capital gains tax increase on family-owned businesses, farms and ranches.