When President Biden unveiled America’s Family Plan, farm country got loud in the face of the proposed changes to the “step-up” basis, which would have disproportionately taxed young farmers inheriting land from family members. In the new proposal from the House Ways and Means Commmittee, farm families won’t be taxed when a death occurs, however, a more manageable estate tax could take its place. In certain cases, it is possible the IRS would allow this estate tax to be paid off over a 15-year period. It is unclear whether the Senate version will make similar changes in their proposal. Read more updates on the next steps here.