The following may be attributed to American Farm Bureau Federation President Zippy Duvall: “ Farmers and ranchers have long called for a fair tax code that recognizes our hard work as well as the unique challenges we face in growing our nation’s food, fiber and fuel. The Senate’s passage of tax reform legislation today puts us within reach of that …
Perdue on President’s “Bring Back Main Street” Message
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 …
Cattlemen Watching Tax Reform Debate
Tax reform has been a major issue in Washington D.C. and an issue many in agriculture have been following very closely. A topic Colin Woodall, National Cattlemen’s Beef Association’s Senior Vice President of Government Affairs and I have had at the end of the year for many years, has been the death tax. Cattlemen Watching Tax Reform Debate Sponsored ContentFlorida …
Tax Reform, Crop Yields, Commodity Prices
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 …
Tax Reform Proposals Jeopardize Essential Farm Program Funding
Lawmakers in Congress are considering major changes to the nation’s tax system after a pair of tax reform bills were introduced in both the U.S. Senate and the U.S. House of Representatives. While the jury is still out on how the plans would impact farmers’ and ranchers’ effective tax rates, new analysis shows that the plans, if passed into law, …
Farm Bureau Applauds Congressional Tax Reform
The federal tax reform plan coming out of Congress makes major changes to the tax code. Pat Wolff, AFBF senior director of congressional relations, says Farm Bureau is reviewing the plan to ensure the effective tax rate lessens the tax burden for America’s farmers and ranchers. Wolff calls it a bold proposal that she expects to move through Congress quickly. …
Agriculture Reacts to House Tax Reform Proposal
The House Ways and Means Committee tax overhaul plan released Thursday provides a blueprint for tax reform. The plan is essentially a set of promotional documents, with many details unaccounted for. The documents say the estate tax would be repealed, and that the legislation will lower individual and corporate tax rates. Agriculture groups are reviewing the first draft of the …
Secretary Perdue Comments on Tax Reform
Details of the next federal budget are still being worked out in Washington, DC. Once that is done, work is expected to begin on a major tax reform. US Secretary of Agriculture Sonny Perdue thinks the proposed tax law changes will be good for agriculture. That’s Agriculture Secretary Sonny Perdue. From the National Association of Farm Broadcasting News Service. Sponsored …
GOP Tax Reform Break for Unincorporated Farming Operations Under Attack?
A key GOP tax reform break for unincorporated farming operations is under attack, but likely to be changed to answer Democratic critics. Many Democrats charge the creation of a new, lower “pass-through” tax rate of 25 percent for unincorporated businesses that file as individuals, which most small farms do, allows for abuses. It’s a claim that GOP tax writers and …
Key for Agriculture Hangs in the Balance
Tax Reform key for agriculture and other sectors, hangs in the balance this week as the Senate takes an expected razor-thin vote on a budget bill crucial to passing tax reform. The fate of tax reform, a top priority of the president and GOP, will likely be determined by this week’s Senate vote on a so-called ‘reconciliation’ budget. American Farm …