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Young farmer says tax changes would drive out new farmers from agriculture
A Western Corn Belt farmer says proposed changes in tax policy threatens the next generation of farming
Lance Atwater says the elimination of stepped-up basis and increases in the inheritance tax could prevent many young farmers – like him – from expanding their operation. “It’s really important that we’re sharing the story on how changes to the tax code such as that could really impact the future of farming and make it more difficult for young people to either maintain the family farm or enter it if someone wants to pass something on to them.”
He tells Brownfield changes could also affect how rented land is passed from one owner to the next. “We have to make sure those families, those children of the landlord, want to keep that farm in the family and allow that tenant to continue to farm that, we need to be able to allow that to happen and not penalize people for that.”
Atwater spoke with Brownfield during the Young, Beginning and Small Farmers and Ranchers Symposium hosted by the University of Nebraska-Lincoln
