The American Farm Bureau Federation sent a letter to the U.S. House of Representatives Tuesday stating its opposition to the Build Back Better Act, also known as the reconciliation package.Read More
The week of Sept. 13, Ohio Farm Bureau President Bill Patterson wrote a letter to Ohio’s congressional delegation, reiterating Farm Bureau’s significant concern for certain tax proposals being considered that would hurt family farms. The letter also emphasized that revenue for this new massive spending package should not be raised on the backs of Ohio’s small businesses and farms.
“We remain adamantly opposed to repealing the step-up in basis and to imposing new capital gains taxes on family farms at inheritance. Any reduction of the current estate tax exemption also presents a tremendous threat to agriculture here in Ohio,” Patterson said.
“Each of these proposals, if implemented, could set back Ohio agriculture for generations to come.”
Patterson’s letter also stressed that eliminating key business tax provisions can have very detrimental impacts on Ohio farms. For example, eliminating the Section 199A business income deduction will hurt businesses organized as pass-through entities. A majority of farms in Ohio are organized this way. Similarly, maintaining like-kind exchanges helps farms enhance efficiencies, maintain cash flows and allows for reinvestment in farm operations.
“As the economic backbone of nearly every county and rural community across Ohio, the importance of agriculture and related industries cannot be overstated. As you consider these tax policies please keep in mind farmers and family-owned agricultural businesses are responsible for producing the safe, affordable and abundant food, fiber and fuel supplies we need every day.”
As a member of Farm Bureau, I am glad that this organization takes action when necessary to protect and advance agriculture.Policy Development
If you have issues with local planning or have legal questions, someone at the Farm Bureau has the answer for you, or they’ll connect you with someone who does.Hansen's Greenhouse
Farm Bureau is an incredible organization that has given me countless professional development opportunities in addition to advocating for all sizes and types of farmers.
We go to a lot of Farm Bureau events, and there’s a lot of camaraderie built because you’re meeting with people who have similar interests and goals.Event Calendar
Through its policies it brings together people in the agricultural community and invests in building vibrant communities that support agriculture.Kalmbach Feeds
Great Lakes is unique among ag labor consultants because it’s grassroots, conceptualized and developed by and for farmers who are members of Farm Bureau.Read More
Ohio Farm Bureau President Bill Patterson wrote a letter to Ohio’s congressional delegation, reiterating Farm Bureau’s significant concern for certain tax proposals being considered that would hurt family farms.Read More
The Biden administration has proposed a sweeping new information reporting requirement on annual gross inflows and outflows of financial accounts.Read More
Representatives on both sides of the aisle recently have spoken out against stepped-up basis.Read More
Consumers are paying higher prices at the grocery for beef, pork and poultry, and the four largest meat packing companies are making record profits, yet the farmers in the middle are losing money.Read More