The Texas A&M University Agricultural and Food Policy Center recently released a report over the economic impacts on agricultural producers of proposed legislation regarding the stepped-up basis and estate taxes.
Based on the proposed STEP Act and the For the 99.5%, the study analyzed the potential changes for producers passing operations down from generations to generations.
Oklahoma Farm Bureau does not support added taxation for farmers and ranchers.
Because agriculture Is capital intensive, added taxes through the proposed stepped-up basis and estate tax changes would hinder producers from transferring operations through generations.
Read the full economic report here.