WASHINGTON – On Monday, U.S. Rep. Randy Feenstra, R-Iowa, during remarks on the House floor, urged President Biden and the administration to back off their attacks on rural Iowa.
“Rural Iowans are already suffering from higher gas and grocery prices due to inflation, which is a direct result of Democrats’ massive and reckless spending. In May 2021, the Consumer Price Index increased at a rate not seen since right before the Great Recession in 2008. On top of the Biden inflation tax, our farmers can’t afford additional taxes, more regulations, and other policies that will hinder our most important industries and stifle economic growth — spelling disaster for our rural main streets. That is why President Biden must back off these attacks on rural Iowans and our main street businesses,” Feenstra said.
The administration has proposed changes to the stepped-up basis tax policy, which Feenstra says is effectively “the death tax with a new coat of paint.” The administration announced they will move back towards Waters of the United States (WOTUS) regulations, undoing the 2020 Navigable Waters Protection Rule; and Reuters reported that Biden is considering giving refiners relief which Feenstra says undermines the Renewable Fuel Standard (RFS) and weakens biofuels blending requirements.
Below are Feenstra’s full remarks, as prepared for delivery:
“I rise today to urge President Biden and his administration to back off their attacks on rural America.
“The administration has proposed changes to the stepped-up basis tax policy, which is effectively the death tax with a new coat of paint.
“I have heard from farmers across the 4th District who are concerned this change would be financially devastating — especially when it comes to passing family farms from one generation to the next.
“This was confirmed by a recent study from Texas A&M’s Agriculture and Food Policy Center.
“The study found that stepped-up basis changes would impact 98% of family farms and impose an additional tax liability of over one million dollars on farms in the Midwest.
“It’s simple: The hard-working men and women who feed and fuel the world — like the folks in Iowa’s 4th District — should not have to foot the bill for the Democrats’ reckless spending agenda.
“But the Biden administration isn’t just looking at penalizing rural Americans with higher taxes — they’re also looking at implementing burdensome regulations that would crush rural main street businesses.
“Administrator Regan recently announced the EPA would look at undoing the 2020 Navigable Waters Protection Rule, which replaced Waters of the U.S. as a smarter and more straightforward approach to defining what waters warrant federal regulation.
“A return to WOTUS, which allowed the federal government to regulate 97% of land in Iowa, would force unnecessary and costly government regulations on the backs of Iowa farmers.
“There are many places federal government bureaucrats just don’t belong, and that includes on the family farm.
“When the executive branch’s power exploded under the Obama administration, we saw ridiculous rules implemented and enforced — leading to rising costs for the ag industry and snuffing out economic growth in our rural communities.
“This attempted power grab ultimately proved why water regulation is best left up to states and localities.
“Put simply: The Biden administration’s big-government agenda for rural America includes higher taxes and more regulation.
“But this administration isn’t stopping with a one-two gut punch.
“President Biden is also looking at undermining the RFS and lowering biofuel blending requirements.
“This will hurt both crop growers and biofuels producers — two industries that are critical drivers of economic activity in my district.
“At the same time, the administration has proposed to spend at least $174 billion on expanding electric vehicles and charging stations.
“A study by Biden’s own Department of Energy found that four out of every five new vehicles will still require liquid fuel by 2050.
“So why is the president taking aim at this critical industry?
“It seems Democrats are shrugging their shoulders, comfortable with turning their backs on rural America.
“Well, enough is enough.
“Rural Iowans are already suffering from higher gas and grocery prices due to inflation, which is a direct result of Democrats’ massive and reckless spending.
“Gas prices are over 50% higher than they were a year ago.
“Food and energy prices have increased nearly four percent, the fastest rate in three decades.
“In May 2021, the Consumer Price Index increased at a rate not seen since right before the Great Recession in 2008.
“On top of the Biden inflation tax, our farmers can’t afford additional taxes, more regulations, and other policies that will hinder our most important industries and stifle economic growth — spelling disaster for our rural main streets.
“Iowa is the breadbasket to the world.
“That is why President Biden must back off these attacks on rural Iowans and our main street businesses.”
