Leaders of the House and Senate Agriculture Committees say the just-passed tax bill delivers lower taxes for farmers and ranchers. House Ag Chair Mike Conaway says: “From lower marginal rates to the treatment of pass-through income to improved small business expensing, this bill delivers for farmers, ranchers and all rural America.” Meanwhile, Senate Agriculture Chairman Pat Roberts says the legislation …
Agri View: Interest Rates
Everett Griner talks about agriculture producers affected by the interest rates in today’s Agri View. Many farmers, large and small, have to borrow money to make a crop. Everett takes a look at the USDA Annual Accounting of Overall Farm Income. Cash Farm Income was forecast to be up, while Net Farm Income forecast to drop. Everett lets us know …
Agriculture Groups Respond to Tax Reform Package
American Farm Bureau Tax Reform Package to Benefit Farmers, Ranchers The following may be attributed to American Farm Bureau Federation President Zippy Duvall: “The tax reform package passed by Congress this week will result in lower taxes for the vast majority of farmers and ranchers. This tax overhaul includes many changes to the tax code, most notably lower individual tax …
How Agriculture Fares with Tax Relief Package
Now that both the U.S. House and Senate have approved the final version of the new tax reform legislation, National Cattlemen’s Beef Association (NCBA) Director of Government Affairs, Danielle Beck looks at what the legislation means for agriculture. How Agriculture Fares with Tax Relief Package Sponsored ContentCIR Agriculture Harvester ProductsNovember 1, 2024Nuseed Carinata Covers New GroundOctober 1, 2024TriEst Ag Group: Partners in …
Farm Co-ops Get Section 199 Fix in Tax Bill
The National Council of Farmer Cooperatives praised lawmakers for their work in providing a fix for the repeal of the section 199 Deduction. NCFC applauded Senator John Hoeven of North Dakota and Senator John Thune of South Dakota for their work in adding the language to the tax bill, along with Senate Agriculture Committee Chairman Pat Roberts. Previously, NCFC said …
FCA Reports on Agricultural Economic Conditions
The Farm Credit Administration (FCA) released a quarterly report on economic issues affecting agriculture and updated the financial condition of the Farm Credit System. The report says the USDA is predicting farm income will stabilize near its historical average. The USDA is predicting an increase in farm income, rising from $93.3 billion in 2016 to 96.9 billion in 2017. Factors …
Coalition Wants Federal Ag Budget to Increase
More than 70 agricultural groups sent a letter to congressional leaders asking for an increase in the agricultural budget for the 2018 Ag Appropriations Bill that Congress is developing. The Hagstrom Report quotes the letter as saying the coalition includes groups from the food, agriculture, scientific, academic, veterinary, and consumer sectors. The letter says, “We urge you to substantially increase …
Interest Rate Hike a Double-Edge Sword for Agriculture
It was no surprise earlier this week when the Federal Reserve upped its federal funds rate target range by 0.25%. With their positive outlook for the U.S. economy, the Feds plan on continuing to raise interest rates well into 2018. This most recent hike was one of the bright spots for farm commodities this week, according to Mike Zuzolo from …
USDA Highlights $40 Million in Infrastructure Investments in Rural Communities
Funding Helps Improve Streets, Transit Facilities and Other Structures to Spur Economic Growth and Create Jobs Agriculture Secretary Sonny Perdue highlighted U.S. Department of Agriculture (USDA) investments in Fiscal Year 2017 that will help construct or improve infrastructure and boost economic growth in rural communities. “USDA is focused on improving rural America’s infrastructure,” Perdue said. “Investments such as the ones …
Report Outlines BayerAG-Monsanto Merger Impact
A research document released by Farmers and Families First shows the proposed BayerAG-Monsanto merger would reduce competition and increase cost for farmers. The white paper says the deal would create a $66 billion corporation with “unprecedented control” over the products farmers and agriculture businesses need to grow, produce and distribute food. Farmers and Families First is an advocacy organization that …