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Grassley Questions Treasury Nominee on the Dangers of Eliminating Stepped-Up Basis Rules

Sen. Chuck Grassley questioned President Biden’s nominee to head the Office of Tax Policy within the Department of Treasury on the potential devastating effects repealing stepped-up basis rules could have on American family farms and small businesses.

In a Senate Finance Committee hearing today, Grassley questioned Lily Lawrence Batchelder, nominee to be an Assistant Secretary of Tax Policy, on how President Biden plans to change rules related to transferring appreciated assets without hurting family farms around the country.


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