The National Council of Farmer Cooperatives and the National Grain and Feed Association are both in favor of a legislative proposal that would fix an unintended consequence of the Republican tax overhaul. The changes to tax law give huge tax breaks to farmers who sell their goods to cooperatives over other types of businesses. Politico says congressional leaders want the …
Early Stage Ag Tech Investments Up 29 Percent
Investments in the early stages of agricultural technology in 2017 increased 29 percent, compared to 2016. AgFunder, a self-proclaimed online investment marketplace for agricultural technology, reports early stage investment in agriculture tech startups reached $10.1 billion in 2017, up 29 percent. The increase reverses a downward trend seen in 2016, when agriculture tech investing dropped nine percent to $7.8 billion …
Tax Breaks Approved for Florida Farmers
In a rare Sunday conclusion to the legislative session, the Florida House and Senate approved a tax package that provides relief for farmers impacted by Hurricane Irma, while also offering sales-tax breaks at the start of the school year and hurricane season. According to a story from the News Service of Florida, Senate Finance and Tax Appropriations Chairwoman Kelli Stargel …
Ag Producer Sentiment Improves; but Uncertainty about the Future of NAFTA Looms
The Purdue/CME Group Ag Economy Barometer moved higher again in February. At 140 points, producer sentiment, which is based on monthly survey of 400 agricultural producers from across the country, reached its second-highest level in more than two years of data collection. Sentiment is also higher for the second-consecutive month, providing a strong 14-point boost to the index compared to …
Bayer Discussing Better Ways to Reach Farmers and Consumers
In conjunction with last week’s Commodity Classic held in Anaheim, California, Bayer CropScience held their 13th annual Advocacy Forum. Vice-President of Communications for North America Crop Science Division for Bayer, Darren Wallis, said the event helped them bring groups together for good discussions of how better to reach consumers and farmers. That of course includes through social media. Bayer Discussing …
Ag Committee Members Press USDA on Payments to Deceased Farmers
Senate Ag Committee members Chuck Grassley of Iowa and Debbie Stabenow of Michigan raised concerns with the USDA’s Farm Service Agency about farm program payments to deceased farmers. The Senators sent a letter to the agency, saying that they need to be careful stewards of taxpayer money and work to avoid wasteful payments. The letter says, “As we prepare to …
Florida Legislature Budget Negotiations Underway
Florida House and Senate leaders kicked off formal negotiations on a new state budget Tuesday night, but they face hundreds of millions of dollars in unexpected costs and less tax revenue than originally thought. According to a story from the News Service of Florida, leaders held an initial conference committee meeting after announcing earlier in the day they had reached …
Perdue Advocates for Crop Insurance Program
Secretary of Agriculture Sonny Perdue walked a tightrope while talking with reporters about President Trump’s budget proposals that agriculture wasn’t enamored with. One of the proposals included cuts to crop insurance. Agri-Pulse says Perdue is making strong statements in support of the program as it currently is. One of the largest cuts in the Trump Budget Proposal is to crop …
Perdue Promotes “Harvest Box”
Ag Secretary Sonny Perdue wants people who don’t like the idea of “America’s Harvest Box” to know that they are very serious about the idea. He says House Ag Committee Chair Mike Conaway is open to considering a small-scale pilot program in the 2018 Farm Bill. The Secretary has faced a lot of criticism since the proposal came out last …
Section 199A Fix Is Coming
A DTN report says Congress may be close to replacing the Section 199A language in the new tax law that curbs the advantages of farmers who sell their products to cooperatives rather than private companies. Iowa Senator Chuck Grassley says a possible fix would give farmer cooperatives the same tax benefits they had under the old Section 199A, known as …