Little Apple Times

U.S. Representative Tracey Mann (KS-01) has spoken out against President Biden's Fiscal Year 2025 budget proposal, labeling it as wasteful government spending aimed at funding a partisan wishlist at the expense of American taxpayers. Rep. Mann criticized the President's approach, stating, "President Biden is spending money and buying votes. His new budget is more of the same." He emphasized the dire financial situation, pointing out that the country is already $34 trillion in debt, and expressed concern about the impact on future generations, saying, "President Biden is mortgaging the future of our children and grandchildren."

In response to the Administration's revenue proposals, Rep. Mann warned about potential tax hikes on Americans, including the highest personal income tax rate since 1986 and the elimination of the longstanding stepped-up basis. He highlighted the implications of eliminating this provision, particularly for family-owned agricultural producers and small business owners, stating, "98% of all American farmers are family-owned, and 66% would see an increased tax liability if stepped-up basis were eliminated."

Rep. Mann has a history of advocating for the preservation of the stepped-up basis. In previous Congresses, he introduced legislation to protect family-owned agricultural producers and small business owners. He also led efforts to push back against provisions in President Biden's previous budget proposals that threatened the stepped-up basis and imposed capital gains taxes on properties like farmland, referred to as the "Farm Killer Tax."

In a firm stance against the potential impacts of the budget proposal, Rep. Mann emphasized the importance of safeguarding the livelihoods of those in critical sectors, stating, "Congress must make it clear to President Biden that America will not stand for the destruction of the livelihoods of those who feed, fuel, and clothe the world – especially in the name of reckless spending."

The debate over President Biden's budget proposal continues to unfold, with Rep. Mann and other lawmakers closely scrutinizing its implications on American taxpayers and key industries.