- June 30, 2021
- Posted by: Stratford Team
- Category: Business
A ‘Coast to Coast’ panel with Kelsey Bolar and Mike Gunzelman weighs in on how much Biden’s American Families plan will really cost taxpayers.
Some of President Biden’s plans to raise revenue for social programs via tax increases will exempt U.S. farmers and other small businesses.
A White House official told FOX Business on Tuesday that the American Families Plan will include protections for family-owned businesses and farms so that they do not get hit by the president’s desire to eliminate stepped-up basis.
“Our reforms are designed with protections so that family-owned businesses and farms will not have to pay income taxes when given to heirs who continue to run the business,” the White House official said. “These protections will encourage family farms to stay in the family.”
IRS KICKS OFF ‘DIRTY DOZEN’ LIST WITH COVID-19 SCAMS AND SCHEMES
The American Families Plan includes proposals for free public education, universal preschool,…
