Representative Angie Craig Statement on Exclusion of Stepped-Up Basis Changes for Family Farmers in Build Back Better Act

WASHINGTON, DC – Today, Representative Angie Craig released the following statement applauding the exclusion of any stepped-up basis changes that would negatively impact family farmers from the House version of the Build Back Better Reconciliation bill:

"Family farmers who feed, clothe and fuel this country should be given every opportunity to pass on their livelihoods to the next generation. That's why, earlier this year, I warned House leadership not to make changes to the stepped-up basis that could negatively impact the next generation of farmers. I am glad that our hard work and persistent advocacy on behalf of Minnesota family farmers has paid off – and that changes to the stepped-up basis that would hurt our family farmers have been left out of this House package."

Representative Craig has long advocated for smart tax policies that ask large corporations and billionaires to pay their fair share while not placing undue burdens on hardworking Americans and small businesses. That's why she opposed efforts to change the stepped-up basis with respect to family farms, which would make it prohibitively difficult to pass their farms on to the next generation. As a member of the House Committee on Agriculture, Craig has tirelessly advocated for family farmers in Minnesota's Second Congressional District – who serve as an essential part of the state's vibrant economy and sustainable communities.