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Shining Light on Farm & Food Policy for 20 Years.
Wednesday, January 08, 2025
Climate and infrastructure continue to be front and center on Capitol Hill. The Senate Finance Committee will debate a package of clean energy tax incentives today, while Republicans prepare a new counter-proposal on infrastructure spending ahead of the upcoming Memorial Day break.
The Agriculture Department this morning is releasing the strategy it will follow in re-shaping programs and policies to help more farmers shift into “climate-smart” practices and to make money from doing so.
President Joe Biden’s drive to shift Americans to electric vehicles, something he showcased in a visit to a Ford electric vehicle plant on Tuesday, is getting pushback from Republicans on a couple of fronts.
Senate Republicans are expected to have a counterproposal on infrastructure spending by Tuesday that should have more details and could be larger than their initial $600 billion offer.
Farm groups are stepping up the pressure on Congress to reject President Joe Biden’s proposals for increasing taxes on capital gains. More than 40 organizations have signed a letter to congressional leaders, saying the proposals threaten the transition to a new generation of farmers.
One of President Joe Biden’s tax proposals to address economic inequality while raising new revenue for domestic spending priorities would make it harder for farmers to use like-kind exchanges to defer taxes when they sell land to acquire other acreage.
President Joe Biden’s proposal to tax capital gains at death accounts for about one-third of the revenue to pay for his American Families Plan, a sweeping package of education, health and child care benefits. That’s according to an analysis of Biden’s tax proposals by the Tax Foundation.