letter

Long Awaited Tax Reform Nearing Reality

Dan Economy, Industry News Release

Comprehensive tax reform, supported by the American Farm Bureau Federation, could soon cross the finish line. The House and Senate have both passed their own versions of tax reform bills.  According to AFBF senior congressional relations director Pat Wolff, the biggest difference for agriculture is how pass-through business income will be treated, income reported by farmers and ranchers who file …

tax

Senate Tax Bill Doesn’t Include Section 199 Deductions

Dan Economy, Industry News Release

The Senate tax bill passed over the weekend does not include a deduction that farm cooperatives lobbied to keep in the tax reform package. The National Council of Farmer Cooperatives (NCFC) says the Domestic Production Activities Deduction, also known as the Section 199 deduction, means farmers may end up paying more taxes. Chuck Conner, NCFC CEO, previously said that Section …

nppc

House/Senate Negotiating Differences in Tax Bill

Dan Economy, Industry News Release

House and Senate tax writers are moving quickly to negotiate differences between their two chambers’ bills, with one of the most sensitive, a tax break for ag and other small businesses. Among the biggest and most politically-sensitive differences between the two tax bills is the treatment of so-called “pass-through” businesses — a huge number in agriculture —  that file returns …

rural

USDA Offering Loans Targeted at Underserved Groups, Beginning Farmers

Dan Economy, Industry News Release

The Department of Agriculture’s Farm Service Agency is reminding the ag community of operating and farm ownership loans to underserved and beginning farmers. For decades now, the FSA has set aside funds, earmarked for these two specific groups. Houston Bruck of the Washington State FSA says not only do these loans help new farmers break in to the industry, but …

inherited

So, You’ve Inherited a Farm, Now What?

Dan Economy, Education, Industry News Release

The University of Nebraska-Lincoln Extension is sponsoring a series of seminars next week focusing on issues that involve inheriting farmland. The seminar is titled “So, You’ve Inherited a Farm, Now What?” and will provide information and education about farmland ownership.  Extension Educator Allan Vyhnalek  will be one of the presenters at the two and half hour seminar. Info Vyhnalek says …

farm profits

Farm Profits Expected to Stabilize

Dan Economy, Industry News Release

Following years of decline, net farm income in 2017 for the U.S. farm sector as a whole is forecast to be relatively unchanged at $63.2 billion in inflation-adjusted terms. The figure is up about one half billion dollars, or .8 percent. Meanwhile, inflation-adjusted U.S. net cash farm income is forecast to rise almost $2.0 billion, 2.1 percent, to $96.9 billion. …

farm credit

Ag Economist: Farming Preparing for Financial Winter

Dan Economy, Industry News Release

If you’re not happy with the weather, wait a little while and things will change. That phrase works not only for the weather, but the overall ag economy. Ag economist and financial analyst Dr. Dave Kohl recently spoke at the 2017 Ag Bankers Conference in Wisconsin. He said the ag economy runs through four seasons. He also said the current …

perdue

Perdue on President’s “Bring Back Main Street” Message

Dan Economy, Industry News Release

U.S. Secretary of Agriculture Sonny Perdue echoed President Donald J. Trump’s message that tax cuts and reforms are needed to increase American prosperity. The president delivered remarks with a “Bring Back Main Street” theme in St. Charles, Missouri, highlighting the need for tax relief to boost the economy, particularly in the heartland. Perdue issued the following statement: “The people of …