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Ohio lawmaker says keep stepped-up basis as is

An Ohio Congressman is taking a stand to protect stepped-up basis for family farms in the Build Back Better Act.

Tim Ryan, a Democrat, says it’s critical that family farms can continue from generation to generation without the fear of unaffordable tax burdens which is why he supports efforts to protect stepped-up basis.

Brian Herringshaw, a young farmer in Northwest Ohio, tells Brownfield being taxed out of his farm is a concern keeping him up at night.

“When it comes to taxes, then you’re starting to talk about will my family farm go past my generation? —that to me is the biggest heartburn,” he says.

The Ohio Corn Growers Association is applauding Congressman Ryan for standing with producers, saying they are deeply concerned about proposals to eliminate stepped-up basis and their impact on farmers.

Brandon Kern, Ohio Farm Bureau’s senior director of state and national policy tells Brownfield eliminating stepped-up basis through new tax proposals from Congress has been something their organization strongly opposes and they appreciate Representative Ryan for listening to farmer concerns.