Senate Votes To Protect Farmers, Ranchers From Higher Capital Gains

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. 

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