Rep. Jason Smith Visits WPH Ranch in Mountain View
Wed, 09/15/2021 - 1:08pm admin
On Tuesday, August 31, Congressman Jason Smith (R-8) visited the WPH Ranch in Mountain View. He toured the farm, Airbnb cabin and event hall and spent time discussing the current challenges that cattlemen are facing.
“Nearly six decades and still going strong! WPH Ranch has been providing Missourians with everything from horses to beef and even cabins to rent for nature lovers. That’s why it’s important for the policies coming from Washington to empower ranchers like WPH so that they can continue their legacy for generations to come.
“Like so many of our small businesses, Monty and Georgia Williamson are concerned about the Biden administration’s plans to create a second death tax and make it difficult to pass their farm on to the next generation. I’m proud to sponsor legislation that will repeal the death tax in its entirety, and will keep fighting Washington overreach on behalf of family farms,” said Rep. Jason Smith.
The Biden administration has proposed a stepped-up basis, which would tax all assets over $1 million at the capital gains rate. At the same time, the administration has proposed doubling the capital gains rate and allowing the current exemption to the death tax to expire, subjecting many more family farms to this tax. Congressman Smith is the sponsor of the Death Tax Repeal Act, which currently has 147 bipartisan cosponsors.