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Shining Light on Farm & Food Policy for 20 Years.
Thursday, November 21, 2024
Vice President Kamala Harris and former President Donald Trump are offering far different tax plans that would have significantly different impacts on agriculture and on federal budget deficits, according to analysts.
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.
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.
Capital gains tax breaks could inject trillions into the nation’s struggling low-income rural and urban communities, thanks to new “Opportunity Zones” tax provisions.
WASHINGTON, Oct. 25, 2017 - Congressional Republicans are preparing to roll out a package of tax cuts with hopes of pushing the bill through at least the House by Thanksgiving. There is no higher priority this Congress for the GOP. Republicans see passing tax cuts as vital to their chances of maintaining control of Congress in 2018.
WASHINGTON, April 26, 2017 - President Trump is proposing to slash the tax rate for owner-operated businesses and corporations to 15 percent, a rate cut that could potentially benefit farms.
