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Shining Light on Farm & Food Policy for 20 Years.
Wednesday, February 19, 2025
Congressional Republicans are likely to move quickly to carry out President-elect Donald Trump’s top legislative priority by extending expiring tax provisions and enacting new tax cuts, and some farm bill measures could go along for the ride.
The top Republican on the Senate Finance Committee, Idaho Sen. Mike Crapo, warned leaders of the nation’s farmer cooperatives Thursday that U.S. inaction on trade agreements is benefiting China and that both former President Donald Trump and Vice President Kamala Harris pose problems for trade policy.
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.