Tax Cuts and Jobs Act

According to the American Farm Bureau Federation, if Congress doesn’t extend current tax provisions, farmers and ranchers will be forced to pay up to $9 billion more in federal taxes every year.  Tax relief enacted by the 2017 Tax Cuts and Jobs Act 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.   ...

Treasury Secretary Scott Bessent, in an interview with CNBC, expressed optimism that “substantial progress” in U.S./China trade negotiations could be achieved in the coming weeks.   “I think it's Steins Law “that which is not sustainable doesn't continue”. So, 145%, 125% tariff levels are ...

Many provisions in the 2017 Tax Cuts and Jobs Act are set to expire this year.  The American Farm Bureau Federation says that adds a big task to the Congressional to-do list: updating the tax code.   Many of those expiring provisions provide important relief for farm families.  AFBF Associa...