By Chris Clayton
DTN Ag Policy Editor
In the middle of the U.S. Senate’s flurry of amendments and votes last week on a $3.5 trillion budget reconciliation resolution was a unanimous vote to protect farmers and ranchers from proposed higher taxes on capital gains.
The U.S. Senate voted 99-0 to accept an amendment by Sen. John Thune, R-S.D., that would protect owners of businesses, farms and ranchers to pass on land without imposing capital gains on the appreciation and value from the prior generation.