NCBA Backed Study Proves Stepped-Up Basis Repeal Would Be Detrimental to Farms and Ranche
The Family Business Estate Tax Coalition (FBETC) released an EY study quantifying the impact a repeal of stepped-up basis would have on family businesses. The National Cattlemen’s Beef Association (NCBA) has long advocated for the preservation of this long-standing provision of the U.S. tax code, as well as other sound tax policies for rural America, and has been an active supporter of this study.
“The EY study sheds light on the facts that we at NCBA—among others in the agricultural community—have long known. Simply put, the repeal of stepped-up basis would have catastrophic impacts on the ability of farmers and ranchers to transfer their operations to the next generation,” said NCBA Senior Executive Director of Government Affairs Danielle Beck.