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Ohio Farm Bureau has issued an Action Alert, encouraging members to write to their members of Congress today, urging their support for the continued use of stepped-up basis.

Current proposals in Washington, D.C. would eliminate stepped-up basis, double capital gains tax rates and charge a new capital gains tax at death on the appreciation of assets like farmland. These proposals will crush family farms and small businesses throughout Ohio and across the country, all in the name of raising revenue for more government spending.

For some background, a new Legal with Leah podcast has been released. Leah Curtis, Ohio Farm Bureau’s policy counsel, explains what stepped-up basis is and how it is used when taxing capital gains, as well as what the implications of these changes in the tax code would be for agriculture.

Ohio Farm Bureau · Legal with Leah – Capital Gains Tax and Stepped-Up Basis
Ohio Farm Bureau · Legal with Leah – Capital Gains Tax and Stepped-Up Basis

Farms are often kept in the family for many years. Tracking the appreciation of land and equipment over a period of decades would be extremely complex, and the value of land is likely to have increased so much that without stepped-up basis the next generation of farmers and ranchers could be forced to sell the land just to pay the taxes. 

Member messages are important to not let this happen. This proposal and possible exemptions for farms are being considered now. Take action and write to your lawmakers today. Here is a direct link to Farm Bureau’s Stepped-Up Basis Action Alert.

Thank you for your time and effort for this important issue.

Labor has always been an issue, mainly because we are a seasonal operation. So that's a challenge finding somebody who only wants to work three months out of a year, sometimes up to six months.
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Mandy Way

Way Farms

Farm Labor Resources
I appreciate the benefit of having a strong voice in my corner. The extras that are included in membership are wonderful, but I'm a member because of the positive impact to my local and state agricultural communities.
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Ernie Welch

Van Wert County Farm Bureau

Strong communities
I see the value and need to be engaged in the community I live in, to be a part of the decision-making process and to volunteer with organizations that help make our community better.
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Matt Aultman

Darke County Farm Bureau

Leadership development
Farm Bureau involvement has taught me how to grow my professional and leadership experience outside of the workforce and how to do that in a community-centric way.
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Jaclyn De Candio

Clark County Farm Bureau

Young Ag Professionals program
With not growing up on a farm, I’d say I was a late bloomer to agriculture. I feel so fortunate that I found the agriculture industry. There are so many opportunities for growth.
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Jenna Gregorich

Coshocton County Farm Bureau

Growing our Generation
Knowing that horticulture is under the agriculture umbrella and having Farm Bureau supporting horticulture like it does the rest of ag is very important.
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Jared Hughes

Groovy Plants Ranch

Groovy Plants Ranch
If it wasn't for Farm Bureau, I personally, along with many others, would not have had the opportunity to meet with our representatives face to face in Washington.
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Austin Heil

Hardin County Farm Bureau

Washington, D.C. Leadership Experience
So many of the issues that OFBF and its members are advocating for are important to all Ohioans. I look at OFBF as an agricultural watchdog advocating for farmers and rural communities across Ohio.
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Mary Smallsreed

Trumbull County Farm Bureau

Advocacy
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