Farm Bill

Tax Reform, Crop Yields, Commodity Prices

Dan Economy, Farm Bill, Industry News Release

There’s lots of talk about tax reform, crop yields, and commodity prices these days, but little about a 2018 farm bill. And it now appears formal writing of a new farm bill may have to wait ‘til next year. Earlier in the year, there was lots of talk about a new farm bill. That was August. Two months later, Democrat Debbie …

Thanksgiving meal

Farmers Getting Only 11 Cents of Every Food Dollar

Dan Economy, Industry News Release

The National Farmers Union and the American Farm Bureau Federation say that consumers are paying less and farmers are receiving less for this year’s Thanksgiving Day dinner. The NFU Farmer’s Share publication says farmers and ranchers get 11.4 cents of every dollar that consumers spend on their turkey day dinner. The Farm Bureau’s annual Thanksgiving Day Price Survey found that …

Peterson

Peterson Likes Senate Tax Bill Better Than House Version

Dan Economy, Industry News Release

House Ag Committee ranking member Collin Peterson says the Senate tax bill is closer to something he can support than the House Bill. The Minnesota Democrat hopes changes will be made so he can support the conference report. Peterson tells the Hagstrom Report that he supports lowering corporate tax rates but not at the expense of raising taxes on individuals. …

Tax Bills ‘Marginally Beneficial to Industry’

Dan Economy, Industry News Release

The pork industry says the tax bills moving in Congress are “marginally beneficial to the industry,” which continues to pursue improvements as the measures continue to advance. The pork industry is generally pleased with the House-passed and Senate-Finance-passed tax bills, but National Pork Producers’ (NPPC) Dustin Baker says NPPC is seeking added changes. Baker says the three breaks are used …

tax

Perdue Comments on House Passage of Tax Cuts and Reforms

Dan Economy, Industry News Release

U.S. Secretary of Agriculture Sonny Perdue hailed the House of Representatives’ passage of historic tax cuts and reforms as an important step toward providing much-needed relief to Americans, creating jobs, and boosting the economy. Perdue issued the following statement: “We haven’t had an overhaul of the burdensome federal tax code since the mid-1980s and it is well past time to …

senate tax

Senate Tax Bill Expands Small Business Break, Ends ACA Individual

Dan Economy, Industry News Release

A revised Senate tax reform bill expands a key break for family farms and other small businesses, but also includes a key GOP goal to end the Obamacare individual mandate. The reworked Senate Finance GOP bill expands tax relief for small businesses that ‘pass through’ company income as individuals. But Republicans set off a firestorm of protest from Democrats by …

letter

Agriculture Groups Band Together to Support Section 199

Dan Economy, Industry News Release

More than 180 agricultural groups are coming together to support the Section 199 tax deduction not included in the tax reform proposal. The groups, led by the National Council of Farmer Cooperatives, penned a letter to House Speaker Paul Ryan and Minority Leader Nancy Pelosi opposing the effective repeal of Section 199. By not including the deduction, the House tax …

afbf

Farm Bureau Welcomes Progress on Tax Reform Bill

Dan Economy, Industry News Release

The following may be attributed to American Farm Bureau Federation President Zippy Duvall: “America’s farmers and ranchers are ready for a tax system that recognizes their hard work and the unique challenges they face while reducing the tax burden that threatens their livelihoods. Thanks to the leadership of the House Ways and Means Committee, we are closer to that goal. …