NFU Warns Tax Reform Could Hurt Farmers

As lawmakers in DC debate tax reform legislation, the National Farmers Union is warning the Republican proposals could have devastating consequences on the ag community.  According to the CBO, both tax bills being considered by the Senate and the House would add $1.5 trillion to the federal deficit.  And that could be offset by eliminating all funding for vital farm programs such as Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC), among other mandatory federal spending programs.

“In the case of the tax bill, current law could require 100% sequestration of all commodity program payments and other farm bill programs," NFU President Roger Johnson said Tuesday.  "Tax cuts for the highest income brackets should absolutely not come at the expense of programs that protect our nation’s family farmers and ranchers.”

Johnson said any possible tax savings would be lost quickly if farm safety net provisions disappear.  He has asked lawmakers to return to the drawing board.

“NFU continues to advocate for a simplified, progressive tax code that does not risk programs vital to the livelihoods and well-being of American family farmers and ranchers.”

Click Here to read that CBO report.

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