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Shining Light on Farm & Food Policy for 20 Years.
Saturday, November 23, 2024
President Joe Biden took on food companies over pricing and forcefully challenged Republicans and Donald Trump over the border, the economy, China and other issues in the last State of the Union address of his term.
Farmers will face increases in both income taxes and estate taxes after 2025, if Congress fails to extend expiring provisions of the 2017 Tax Cuts and Jobs Act, according to an analysis by USDA’s Economic Research Service.
The Senate this week tackles a bipartisan border security compromise that likely faces unsurmountable opposition from House Republicans and former President Donald Trump.
The House overwhelmingly approved a bipartisan tax package Wednesday night that includes improvements to valuable expensing provisions used by farmers, as well as an expansion of the child tax credit.
Two tax breaks that are widely used in agriculture are at stake as Republicans and Democrats renew what is likely to be a multi-year battle over tax policy.
President-elect Joe Biden is out with a $1.9 trillion stimulus proposal that includes some significant new food assistance provisions, including an extension through the summer of the 15% increase in SNAP benefits provided by the COVID aid package enacted in December.
