Articles Tagged with ''tax policy''

House Democrats look to finish pulling together their $3.5 trillion tax and spending package this week, despite a fierce internal struggle over the taxes they need to pay for it and delays in finalizing $94 billion in agriculture provisions.

Congressional Democrats’ massive Build Back Better spending plan would create a new subsidy for renewable jet fuel while also extending the existing tax credit for biodiesel and renewable diesel through 2031.

House Democrats are forging ahead with writing a massive new tax and spending package with major implications for the next farm bill as well as producers’ finances.

Senate Democrats released a fiscal 2022 budget resolution that calls for $3.5 trillion in new spending, including as much as $135 billion for agriculture and child nutrition programs, funded largely by a border carbon tariff and tax increases on capital gains and high-earning individuals.

Farm groups are bracing for President Joe Biden to propose higher taxes on inherited assets and capital gains this week, while the Supreme Court takes up the authority of EPA to exempt refiners from biofuel usage requirements.

Farm groups are bracing for a possible effort in Congress to impose new taxes on inherited land and other assets as a way of addressing wealth inequality while raising revenue Democrats will need to fund new infrastructure or social spending.

President Joe Biden and congressional Democrats are readying their next big legislative push for a $2 trillion infrastructure package that he wants to pay for with corporate tax increases, which likely will make the measure a non-starter for Republican lawmakers and many farm groups.

Leading farm groups united with two major environmental groups to release on Tuesday more than 40 policy proposals aimed at helping farmers benefit economically from reducing U.S. greenhouse gas emissions while helping growers become more resilient amid climate change.

American agriculture is speeding toward a crisis of continuity—much of our nation’s farmland will soon need a new farmer.