Rep. Fischbach Writes President Biden A Letter

President Biden’s proposed tax increases for family farms and small businesses aren’t sitting well with a Minnesota Congresswoman.  Minnesota 7th District Congresswoman Michelle Fischbach has joined with Iowa Congressman Randy Feenstra to oppose the President’s plan.  Their letter states: “Since the founding of this nation, America’s farmers and small businesses have been the backbone of our economy. Unfortunately, revenue proposals outlined in your FY2025 Budget Request will significantly burden these hard-working Americans. This is the third year in a row in which your Administration has sought to fuel its reckless spending agenda on the backs of family farms and small businesses.”  Congressman Feenstra went on to say that “This bloated budget includes a new tax on the transfer of agricultural and business assets, a devastating cap on like-kind exchanges, and a combined capital gains and dividend tax rate more than double that of China. These economic policies will stifle economic growth in our rural communities, prevent young producers and entrepreneurs from continuing the family tradition, and sadly give family farms and small businesses no other choice but to close for good.”