tax cuts

Farmers Benefiting from Trump Tax Cuts

Dan Alabama, Economy, Industry News Release

Farm families are reaping the benefits of the Tax Cuts & Jobs Act (TCJA) signed by President Donald J. Trump in December, according to a U.S. Department of Agriculture (USDA) report. The Economic Research Service (ERS) studied 2016 Internal Revenue Service and USDA data and released findings last month showing the effective tax rate for farmers is 3 to 6 percent …

House Ways

Scott Signs Tax Cuts

Dan Economy

Governor Rick Scott signed 74 bills into law last Friday including the tax-cut package, HB 7087, which totals about $171 million in tax and fee cuts. The package authorizes many things, including tax breaks for farmers and ranchers who suffered damage in Hurricane Irma. It offers tax breaks on agricultural fencing materials purchased for repairs after the hurricane and includes …


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 …