A part of Biden’s American Families Plan may be worse than the estate tax

President Biden’s American Families Plan proposes a new transfer tax on farm and ranch families. It is raising concern among ag tax experts, who say it could be much worse for most farmers than the estate tax.

Ag CPA Paul Neiffer speaks with RFD-TV’s own Janet Adkison on why it would be worse than the estate tax, how it would affect step up basis, and if it will pass.

According to Neiffer, “The estate tax is based on your net worth... The transfer tax doesn’t care about liability.”

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Sen. Marshall on President Biden’s speech, tax plan, American Families Plan