Sen. Portman, Entire Senate Republican Caucus Urges Biden Administration to Drop Step-Up in Basis Tax-Hike Proposal
July 22, 2021
July 22, 2021
WASHINGTON, July 22 -- Sen. Rob Portman, R-Ohio, issued the following news release:
U.S. Senator Rob Portman (R-OH) joined the entire Senate Republican caucus in urging President Biden to abandon his effort to impose a capital gains tax increase on family-owned businesses, farms, and ranches. Repealing this part of the tax code would have a devastating effect on multi-generation operations, which could lead to job losses, liquidation, or outright closure.
"These [p . . .
U.S. Senator Rob Portman (R-OH) joined the entire Senate Republican caucus in urging President Biden to abandon his effort to impose a capital gains tax increase on family-owned businesses, farms, and ranches. Repealing this part of the tax code would have a devastating effect on multi-generation operations, which could lead to job losses, liquidation, or outright closure.
"These [p . . .