Farmers and ranchers need a tax code that recognizes the unique financial challenges we face. Running a farm or ranch business is challenging under the best of circumstances as we meet with whatever the markets and Mother Nature send our way. But the tax code shouldn't be as unpredictable as the weather.
Speaker Ryan, Chairman Brady and House Republicans are to be commended for developing a blueprint for rewriting of our nation's cumbersome, convoluted and complex tax code. Their plan is a strong and much-needed start to what will surely be an extensive tax reform discussion.
Farm Bureau is very pleased to see the plan includes several very important features for farmers and ranchers including full expensing, exclusions for capital gains and repeal of the estate tax. We look forward to continuing the conversation about meaningful tax reform that benefits the whole economy.
Agriculture operates in a world of uncertainty, and we appreciate the focus on simplifying and streamlining the tax code. Still, the plan runs deep and wide with bold proposals that will require careful analysis. The American Farm Bureau Federation will take a serious look at the proposal and thanks House Republicans for this dedicated effort.
Duvall is the President of the American Farm Bureau Federation