Political Quotes

Thomas Mott Osborne: “rural poverty is a huge, largely unnoticed problem in our Nation. Currently, the three lowest-income counties in the…”

On the recordJanuary 30, 2001
rural poverty is a huge, largely unnoticed problem in our Nation. Currently, the three lowest-income counties in the United States are in my district. The poorest county averages less than $4,000 annual income per person. Paradoxically, in these counties, the unemployment rate is extremely low, the character level is excellent, and the work ethic is exceptional. The problem is that these rural counties are totally dependent upon production agriculture. For this reason today, along with several colleagues, I am introducing a bill that will provide a one-time, $500,000 capital gains tax exemption for farmers and ranchers who sell their land. This exemption would equal the capital gains exemption already granted to homeowners. Many producers feel they cannot retire because of their tax situation. This bill will help. I encourage support.
Said by
Thomas Mott Osborne
Nebraska
Source
govinfo.gov

Editor's note · Context

Introducing a bill to address rural poverty and provide tax relief for farmers and ranchers.

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