Articles tagged under: budget reconciliation
Stepped-Up Basis Changes Not Included in $3.5 Trillion Budget Reconcilation
Published September 16, 2021
The House Ways and Means Committee has approved the budget reconciliation rules for the Budget Committee. This language does not include changes to stepped-up basis as had been feared by many in agriculture. House Agriculture Committee Chair David Scott released…The Politics of Farm Policy Highlighted During Big Iron Forum
Published September 15, 2021
According to former House Agriculture Committee Collin Peterson, one of the biggest issues facing agriculture is there are no Democrats left representing farm districts in Congress. “You can’t do anything with one party, it just doesn’t stick,” said Peterson. Former…Aggies Concerned About Tax Proposals
Published September 9, 2021
Nearly 300 farm groups have sent a joint letter to congressional leadership, voicing concern about the tax policies in the budget reconciliation bill. The letter says changes to stepped-up basis and estate taxes put family-owned farms at risk. In addition…Vilsack: Biden’s Tax Changes Won’t Hurt Family Farmers
Published September 9, 2021
In an opinion piece in the Wall Street Journal, Agriculture Secretary Tom Vilsack said the proposed tax law changes will not hurt family farmers. Vilsack said there are special protections built into the plan for family businesses, including a $2.5…AFBF: Reconciliation Package Will Increase Tax Burden
Published September 8, 2021
Farm Bureau is raising its concern with the proposed budget reconciliation package. In a letter to congressional leadership, American Farm Bureau Federation President Zippy Duvall said the tax increases in the bill will have “a disproportionate impact” on farmers and…Seeking a Place for Biofuels in Budget Reconciliation Bill
Published September 3, 2021
A group of Democratic lawmakers, including Minnesota Senators Amy Klobuchar and Tina Smith and Representative Angie Craig, are asking congressional leaders to include support for homegrown renewable fuels in the budget reconciliation package. The lawmakers argue this effort will create…Infrastructure Bill Can Use Budget Reconciliation Process
Published April 6, 2021
The Senate parliamentarian has ruled the $2.5 trillion infrastructure bill can use the same legislative process used for President Biden’s coronavirus assistance package. This is considered a major expansion of the reconciliation process that allows some bills to be passed…