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Shining Light on Farm & Food Policy for 20 Years.
Wednesday, April 24, 2024
President Joe Biden took on food companies over pricing and forcefully challenged Republicans and Donald Trump over the border, the economy, China and other issues in the last State of the Union address of his term.
The House Ways and Means Committee advances a bipartisan agreement to expand the child tax credit while boosting two tax breaks that are widely used in agriculture.
Two tax breaks that are widely used in agriculture are at stake as Republicans and Democrats renew what is likely to be a multi-year battle over tax policy.
House Republican leaders are looking to get their agenda back on track after a group of hard-line conservatives angry over the debt ceiling agreement effectively brought action in the chamber to a halt last week.
House Republicans proposed a tax package Friday that would impose a new excise tax of up to 60% on purchases of U.S. farmland by China and other “countries of concern."
Several key House committees will be chaired in the coming Congress by Republican lawmakers who represent districts with significant farm production or have an agricultural background themselves.
House Democrats look to finish pulling together their $3.5 trillion tax and spending package this week, despite a fierce internal struggle over the taxes they need to pay for it and delays in finalizing $94 billion in agriculture provisions.
Congressional Democrats’ massive Build Back Better spending plan would create a new subsidy for renewable jet fuel while also extending the existing tax credit for biodiesel and renewable diesel through 2031.
House Democrats are forging ahead with writing a massive new tax and spending package with major implications for the next farm bill as well as producers’ finances.
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.