Farmers Will Benefit From Updated Tax Codes, Duvall Says

With just a few weeks until the tax filing deadline, farmers and ranchers across the country are busy putting together their finances.  American Farm Bureau Federation President Zippy Duvall said recent updates to tax law could provide a bright spot in an otherwise dismal farm economy.

“Farmers face high supply costs, low commodity prices and global unrest. At least there is some certainty for farmers when it comes to the tax code," Duvall noted.  "The One Big Beautiful Bill Act delivered major tax relief and incentives that will directly benefit farm and ranch families.  Making permanent the 2017 individual tax code provisions will benefit almost every farm family. Qualified business income deductions, enhanced business expensing, and estate tax relief means farmers can invest more into their business and make plans for the next generation.” 

Duvall added it’s encouraging that Congress and the administration cut red tape for farmers who need help to manage razor-thin margins.

If you have a story idea for the PNW Ag Network, call (509) 547-1618, or e-mail glenn.vaagen@townsquaremedia.com