As Dems Debate Build Back Better, Ag Waits

Last week, President Biden failed to convince enough progressive members of his party to agree to his Build Back Better legislation, forcing House Speaker Pelosi to punt the effort last week, again leaving the farming community in limbo. Roughly $28 billion in conservation, rural development, and forestry aid, as well as $65 billion for rural […]

Could Stepped-Up Basis Be Removed? No Clear Answer Given

Farmers and ranchers are getting a little nervous that Congressional Democrats may still end their stepped-up basis tax break in favor of a capital gains tax at death. The question of if ending stepped-up basis as a revenue source is still on the table was recently put before Senate Finance Chair Ron Wyden, with Oregon’s […]

AFBF: New Taxes For Social Programs Won’t Work

As Republicans and Democrats argue over the price tag and what is and what is not infrastructure, the American Farm Bureau Federation says ‘no’ to the tax and spending bill–the political linchpin for a bipartisan infrastructure bill the organization supports. Trillions in social spending, infrastructure and stop-gap-spending-and-borrowing bills are colliding this week in a ‘perfect […]

Duvall: Proposed Ways To Pay For Spending Not Acceptable For Ag

Top Capitol Hill Democrats says they have a framework agreement on taxes to fund their $3.5 trillion Biden “Build Back Better” budget. However, American Farm Bureau Federation President Zippy Duval said what’s known on those tax ideas, so far is not acceptable. And that includes a capital gain ‘carve out’ for farms that stay in […]

Ag Lawmakers Warn Of Potential Harm In Spending Bill

Sweeping tax changes for Ag are included in the Democrats’ massive social spending bill, which could soon be headed to the House floor. Supporters of farm country said this week the best news for agriculture is that House Democrats dropped the president’s plan to impose a capital gains tax on producers at death. The idea […]

NCBA: We Need Stepped Up Basis To Stay

Hundreds of Ag and food groups have written Congress’ two tax-writing committees, arguing against the Administration’s proposals to end stepped-up basis and other farm focused tax breaks. The letter by the nation’s biggest farm and food trade groups comes as House Ways and Means and Senate Finance start to decide the cost and how to […]

Ag Groups: Tax Proposals Risk Future of American Farms

The American Farm Bureau Federation, 46 state Farm Bureaus, and 280 organizations representing family-owned agribusinesses recently sent a letter to Congressional leaders regarding tax policies and the impact they will have on the farming sector. The letter asks lawmakers to leave important tax policies in place as they draft legislation implementing President Biden’s “Build Back […]

AFBF: Talk To Lawmakers During August Recess

The August recess is a chance for members of Congress to reconnect with their constituents. American Farm Bureau President Zippy Duvall said it’s also the perfect time for farmers and ranchers to talk to their legislators about agriculture. “Reach out to them, have a conversation with them, go to town hall meetings, call and invite […]

Senate Approves Plan To Keep Stepped-Up Basis

As part of the recently approved $3.5 trillion “human infrastructure” bill, the Senate agreed to preserve stepped-up basis, which many in the farming community say is critical to ensure farms can be passed down to the next generation. South Dakota Republican John Thune proposed an amendment to keep stepped-up basis and it received a 99-0 […]

Farm Bureau: Removing Stepped-Up Basis Would Make It Hard For Next Generation Of Farmers

The American Farm Bureau Federation continues to remind lawmakers, and the general population that proposals to eliminate stepped-up basis would have devastating consequences to farmers and ranchers. Farm Bureau member Mike Brundige, a 4th generation farmer from Tennessee, said eliminating the stepped-up basis would prevent him from passing his farm on to the 5th generation. […]