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Failure to Extend Tax Cuts Could Cost Farmers Billions

If Congress fails to extend current tax provisions, America’s farmers and ranchers will be forced to pay $9 billion more in federal taxes every year. Tax relief enacted by the 2017 Tax Cuts and Jobs Act (TCJA) is set to expire at the end of this year, which would lead to tax increases for almost two-thirds of families, including those in rural America.

In the latest Market Intel, American Farm Bureau Federation economists analyzed the impact of reverting to the previous tax code.

“The size of a federal tax bill can make or break farm profitability, particularly for small farms on the brink of breaking even,” the Market Intel states.

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Turning Sustainability into Revenue with BASF Circalo

Video: Turning Sustainability into Revenue with BASF Circalo


BASF is helping connect the farm to the fuel market with Circalo Low Carbon Intensity Crops, a new approach designed to help growers participate in emerging low-carbon fuel programs like the 45Z ethanol tax credit.

In this video, Chad Asmus explains how this system works—and how farmers can get involved.