Don’t Let a Bad Policy Idea Take Root

Believe it or not, the focus in the Iowa presidential caucus is starting to shift from the personalities of the candidates to their actual policies.  August delivered a plethora of campaign swings throughout Iowa including the State Fair, which provided a platform for candidates to discuss issues. The first Republican debate, although light on tax policy, allowed the candidates to start engaging on a number of issues.  For Iowans, there is an important intersection of tax policy we should be paying closer attention to: federal estate tax laws and the capital gains tax.  More specifically, Iowans must be wary of any changes to how the cost basis of inherited assets is calculated or our farm families could end up paying a steep price.