Agriculture anxious to see what happens to Build Back Better in 2022
Agriculture is watching to see what happens with the Build Back Better Act in 2022.
Compeer Financial vice president of legislative affairs Perry Aasness tells Brownfield he wonders if a slender version could garner the support of West Virginia Senator Joe Manchin.
“And even if there was and the Senate was able to pass a bill on a party line vote, what would happen if it goes back over to the House? Because certainly there’s the progressive wing of the House Democrats who would like to spend more money. So would they actually support something even less than what the House passed a few weeks ago?”
He says it appears no version of Build Back Better will include changes to tax policy that would be harmful to agriculture.
“Protecting stepped up basis as a tool for farmers, as well as ensuring that there would be no changes to estate tax provisions (and) things like that. So I guess as we look ahead, whether or not there’s going to be Build Back Better legislation, it will certainly have to be slimmed down.”
And if not, Aasness says it could get very interesting on Capitol Hill with the mid-term elections approaching.
Aasness made these comments during a recent Brownfield content partnership podcast with Compeer Financial.