President Joe Biden is expected to release a new round of spending proposals this week, plus the tax increases to pay for them. Farm groups have been raising concerns for weeks about those tax proposals in the expectation they will include either the elimination of stepped-up basis or a new “transfer” tax on inherited assets.
President-elect Joe Biden is out with a $1.9 trillion stimulus proposal that includes some significant new food assistance provisions, including an extension through the summer of the 15% increase in SNAP benefits provided by the COVID aid package enacted in December.
The Trump administration is unlikely to make a needed fix to tax regulations for farmer co-operatives, leaving many growers at risk of seeing higher tax bills, according to the National Council of Farmer Cooperatives.
The Agriculture Department proposes to take over the Food and Drug Administration's oversight of gene-altered animals, a potential victory for livestock groups seeking to speed approval of genetic modifications.
Recent years of financial stress and trade disruption in agriculture, coupled with the COVID-19 pandemic, produced new challenges for farmer-owned agricultural coops and have prompted many to rethink their business models.
Restaurants across the country are working hard to get back to normal, farmers have lost valuable food service markets and a growing number of unemployed workers struggle to purchase food because of COVID-19.
A recent State Department move is expected to speed approval of farmworkers seeking to enter the country, but observers of the process are still keeping a watchful eye on many parts of the H-2A program.