President Joe Biden has proposed amending the inheritance tax, also known as the “death tax,” but farmers around the country are raising concerns about the plan.
In the American Families Plan introduced earlier this year, Biden proposed repealing the “step-up in basis” in tax law. The stepped-up basis is a tax provision that allows an heir to report the value of an asset at the time of inheriting it, essentially not paying gains taxes on how much the assets increased in value during the lifetime of the deceased. This allows heirs to avoid gains taxes altogether if they sell the inheritance immediately.
Under Biden’s change, heirs would be forced to pay taxes on the appreciation of the assets, potentially over the entire lifetime of the recently deceased relative.
China’s effort to unseat America as the world’s economic superpower has a new tactic: It has bought up more than 200,000 acres of U.S. farmland. And while there is bipartisan support for legislation to slow down Beijing’s acquisitions, Democrats have added a new wrinkle.
Rep. Dan Newhouse (R-Wash.), who is leading the legislative charge, says congressional Democrats have removed all references to the communist government of China in an amendment to an agricultural spending bill that originally prevented the Chinese Communist Party’s purchase of American farmland.
Due to a severe statewide drought, Gov. Tim Walz sent a letter to U.S. Department of Agriculture (USDA) Secretary Tom Vilsack, requesting assistance to aid Minnesota’s livestock producers by relieving the immediate impacts of drought on grazing land.
“Agriculture is the past, present, and future of Minnesota’s economy. We must do everything we can to address the challenges our farmers and ranchers are facing due to the severe drought conditions plaguing our state. That’s why I’m asking the U.S. Department of Agriculture for assistance,” Walz said in a statement. “The USDA’s ongoing support of Minnesota’s agricultural industry is well-recognized across the state, and with their continued assistance, our livestock producers will have a brighter outlook as we endure these harsh conditions and look forward to a thriving future.”
Walz supported implementing a plan to allow emergency haying and grazing on eligible Conservation Reserve Program (CRP) land counties experiencing Level D2 or greater drought conditions, reducing forage pressures on Minnesota’s livestock producers. The latest U.S. Drought Monitor update on July 8 reported nearly 40% of Minnesota is suffering under Level D2 or greater drought conditions.
A federal judge in Florida temporarily halted President Joe Biden’s $4 billion debt relief program exclusively for farmers of color, saying in a Wednesday order that the program was racially discriminatory.
U.S. District Judge Marcia Morales Howard sided with Scott Wynn, a Florida-based white farmer who sued to block the program in May. The Department of Agriculture (USDA) program was originally passed in March as part of Biden’s $1.9 trillion coronavirus relief package, with the intention of providing relief to “socially disadvantaged farmers.”
“Section 1005’s rigid, categorical, race-based qualification for relief is the antithesis of flexibility,” Howard wrote. “The debt relief provision applies strictly on racial grounds irrespective of any other factor.”
The Supreme Court ruled Thursday that Nestle USA and Cargill could not be sued for alleged human rights abuses that occurred overseas.
The plaintiffs, six Mali citizens enslaved as children on Ivory Coast cocoa farms supplying the food giants, sued Nestle and Cargill for damages, alleging the companies had aided and profited from child labor. The court ruled the corporations could not be sued for the overseas abuses.
“Nearly all the conduct they allege aided and abetted forced labor—providing training, equipment, and cash to overseas farmers—occurred in the Ivory Coast,” Justice Clarence Thomas wrote in the majority opinion.
A federal judge Thursday afternoon suspended a loan forgiveness program that issues relief to farmers and agricultural workers of color.
Judge William Griesbach of Wisconsin’s Eastern District handed down a temporary restraining order after the conservative Wisconsin Institute for Law and Liberty (WILL) filed a lawsuit in April. The group alleged in its announcement that President Joe Biden’s relief program was unconstitutional and that white farmers should have been included in the loan program.
“The Court recognized that the federal government’s plan to condition and allocate benefits on the basis of race raises grave constitutional concerns and threatens our clients with irreparable harm, said Rick Esenberg, WILL’s president and general counsel, in a press release Thursday. “The Biden administration is radically undermining bedrock principles of equality under the law.”
A pair of Wisconsin farmers are part of a new lawsuit challenging President Biden’s race-based program for farm loan forgiveness.
The Wisconsin Institute for Law and Liberty filed the suit on behalf of Calumet County farmer Adam Faust and Crawford County farmer Christopher Baird, as well as clients in Minnesota, South Dakota, and Ohio. The suit claims the farm loan forgiveness program included in the American Rescue Plan discriminates because it is only open to farmers of color.
“President Joe Biden’s signature COVID-19 relief legislation signed in March, provides billions of dollars of debt relief to ‘socially disadvantaged’ farmers and ranchers,” WILL said in a statement about the case. “But the law’s definition of “socially disadvantaged” includes explicit racial classifications: farmers and ranchers must be Black or African American, American Indian or Alaskan native, Hispanic or Latino, or Asian American or Pacific Islander. Other farmers — white farmers, for example — are ineligible.”
The House will vote on two immigration bills this week as the numbers of migrant families and children detained at the southern border surges.
The first bill, dubbed the Dream and Promise Act (DPA) would provide a pathway to citizenship for Dreamers, immigrants who have lived in the U.S. illegally since being brought as young children.
The second, the Farm Modernization Workforce Act (FMWA), would create a certified agricultural worker status and streamline the H-2A visa application process. President Joe Biden has also announced a sweeping immigration reform plan in addition to the two bills, though Republicans have labeled it a non-starter.
Cyrus Hall McCormick was born in 1809 on his father’s rural farm tucked between the Blue Ridge and Allegheny Mountains in an America that was still developing “beyond the struggle for food.”
Continuous wet weather disrupted the spring planting season for Southern Illinois farmer Jim Raben, meaning he is anticipating a lean harvest this year.
Democratic presidential candidate Bernie Sanders on Sunday proposed a sweeping agriculture and rural investment plan to break up big agriculture monopolies and shift farm subsidies toward small family farmers. “I think a farmer that produces the food we eat may be almost as important as some crook on Wall…
by Tim Pearce American farmers are sticking behind President Donald Trump despite a trade agenda that makes selling produce to foreign countries more difficult and less profitable, Bloomberg reported. The United States’s ongoing trade war with China is a primary concern for U.S. farmers that sell crops, especially soybeans, overseas. While Trump’s view…
Brandon Alexander would like to introduce you to Angus, the farmer of the future. He’s heavyset, weighing in at nearly 1,000 pounds, not to mention a bit slow. But he’s strong enough to hoist 800-pound pallets of maturing vegetables and can move them from place to place on his own.…