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Shining Light on Farm & Food Policy for 20 Years.
Friday, April 19, 2024
Treasury Secretary Janet Yellen offered sharp criticism Wednesday of U.S. tariffs on Chinese goods, promising to “reconfigure” the import taxes even as her department continues a review.
USDA today will release its annual survey of farmers’ planting intentions, which will be the department’s first good reading on how much farmers will shift their crop mix as a result of the Ukraine war and soaring costs for fertilizer and other inputs.
President Joe Biden’s fiscal 2023 includes a $2.6 billion, or 9%, increase for USDA with many of the same themes of the first budget he proposed a year ago.
Democrats hope to get President Joe Biden’s Build Back Better bill to the finish line in December, but first they face a more urgent stalemate with Republicans ahead of Friday’s expiration of a stopgap funding bill.
Democrats’ massive Build Back Better bill not only protects stepped-up basis, it also includes a long-sought change in an estate-tax provision that could have far-reaching benefits for many farms.
The key committee provisions in the $3.5 trillion reconciliation package show that Democrats in Congress are in line with President Joe Biden’s vision to put electric vehicles — not biofuels — at the forefront of the fight against climate change.
The agriculture portion of the $3.5 trillion spending package that Democrats are putting tougher is still a work in progress. In addition to $28 billion in conservation spending that still needs to be added to the legislation, there also will be some new farm debt relief.
A key House Democrat is promising to help fix language in a package of green energy tax incentives that could block U.S. farm commodities from benefiting from a new tax credit for renewable jet fuel.
Following an outcry from farm groups and rural lawmakers, House Democrats proposed a tax package Monday that omits President Joe Biden’s proposal to tax capital gains at death.