WASHINGTON – U.S. Senator Joni Ernst, R-Iowa, said that Democrats’ “reckless tax and spending spree” will hurt farmers and families during a press avail on Wednesday.
“Our hardworking families are already feeling the burden from these rising costs of goods and services, things like paper towels and diapers, just everyday items that our families need. And yet, the Democrats are trying to ram through another three and a half-trillion dollars of spending. Our key sector of the economy that’s going to feel the pinch from the Democrats’ reckless tax and spending spree is our farmers and our ranchers,” she said.
Ernst said that currently, farming families don’t have a tax burden when they pass down their farm from one generation to the next, but that will change under a Democrat proposal.
“What the Democrats are proposing is to tax these families for simply passing on their business from one generation to the next. And if you don’t think that’s going to impact our food prices, you’re wrong. You are wrong. We call this the farm-to-table tax. That’s what they are going to do in this next spending package—farm-to-table tax—so increasing the taxes on our farmers, absolutely not the right thing to do, not now, not in the future. And just to put it into perspective, folks, we’re already knocking on $30 trillion of debt and adding to this burden,” she added.
Ernst said there’s never a good time for “reckless spending and taxing.”
On Tuesday, she pointed out that 80 percent of Americans are concerned about inflation and accused Democrats of ignoring the problem.
Ernst also signed a joint Senate Republican letter to President Joe Biden criticizing him for his “back door death tax.” U.S. Senator Chuck Grassley, R-Iowa, also signed that letter.
Read it below:
68D3A94202F35DA26AD3F9EF72D096A8.2021-07-21-step-up-in-basis-letter
