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House Ways and Means Committee conducts field hearing at Iowa State Fair

Tax provisions important to farmers were discussed during a U.S. House Ways and Means Committee field hearing at the Iowa State Fair Friday. 

Iowa Congressman Randy Feenstra sits on the Ways and Means Committee and says tax issues were at the center of the hearing.

“(Section) 179 depreciation, from stepped up basis to death tax, all these things that affect the producer, the farmer. And we had a really good discussion on these topics because they all sunset here in 2025.”

He tells Brownfield the death tax needs to be done away with.

“Think about this, you’re going to pass that land to the next generation and yet it’s going to cost you 42 percent tax. So you’re going to pass that on to your son or daughter or whoever it might be, that’s a massive tax. So we want to get rid of the death tax.”

He says the tax bill is stuck in the Senate and won’t get passed before next year. 

Brownfield interviewed Feenstra during the Iowa State Fair Friday.