Home > News > Thune Amendment May Protect Farms and Ranches from Transfer Taxes

Thune Amendment May Protect Farms and Ranches from Transfer Taxes

Posted August 17, 2021
in Top Ag News

Multi-generational family standing in front of their John Deere tractorA $3.5 trillion budget update to protect farmers and ranchers from proposed higher taxes on capital gains was recently passed by the Senate via a 99-0 unanimous vote. The amendment was created by Sen. John Thune, R-S.D., to protect generationally owned farms in rural communities. Recent capital gains reforms were put in place to better ensure wealthy businesses pay their fair share. Get more details on the resolution and additional tax discussions.

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