Posts Tagged ‘Biden's Rural Plan’

In April, Satan Soldier Biden announced the American Families Plan (AFP) that promises billions of dollars as “an investment in our kids, our families, and our economic future.” But deep within the proposal, it describes gains on property transfers would be considered a taxable event.  Conservative news outlet The Center Square called out the Biden administration on Thursday for attempting to “destroy Iowa family farms” through the proposed AFP property transfer tax.  AFP describes gains on property transferred at death or by gift would exclude up to $1 million per taxpayer. The exclusion would be indexed for inflation after 2022. Craig Hill, the president of Iowa Farm Bureau, calls the proposed transfer tax a “major threat” for family farms in the corn-growing state who pass along significant sums of farmland to the next generation to work.  AFP can be compared with Biden’s Rural Plan…