A new piece of legislation aims to help preserve family-owned agricultural land. The Heritage Act would expand special-use valuation to reduce the estate tax value of farms and ranches.
Mike Vanmaanen, president of the Livestock Marketing Association, joins us Friday on the Market Day Report for a closer look at the legislation.
In his interview with RFDTV’s own Suzanne Alexander, Vanmaanen explained how the Death Tax impacts farm and ranch families, how the Heritage Act could help, the next steps for the bill, and some topics LMA will discuss at their conference in Omaha.
For more information, click here: Livestock Marketing Association
Related Stories
Labor is an ongoing crisis in the ag sector. One industry group outlines three vital reforms to the H-2A visa program that farmers need to secure an affordable, stable workforce.
Both Congressional Ag Committees took up the bill over the summer, but there’s no word on when the Senate could move forward; it does expire on September 30.
Tom Peterson with the New Mexico Cattle Growers Association says taxpayers are “unfortunate casualties” of this overlay now that the Mexican wolf population is stable under ESA guidelines.
The amendments affect BLM lands in several Western states. Comments on the Sage grouse proposals can be made to the BLM National NEPA Register until Oct. 3.
Mike Formica with the National Pork Producers Council joined us on Market Day Report with his reaction to the EPA’s rollback of a Biden-era wastewater discharge mitigation plan.
Farmers are struggling with low commodity prices and skyrocketing input costs, resulting in debt that is outpacing income across the sector, according to the USDA’s new farm income forecast.
