Impact of COVID-19 on Agriculture

Tax Changes Could be Coming in 2021

News / In The News January 14, 2021

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There is soon to be a new administration in Washington, D.C., and often that means changes in tax policy, reported 95.3 MNC.

“We are expecting to see legislation, maybe big tax legislation, fairly soon in the first six months,” said Pat Wolff, AFBF Senior Director, Congressional Relations. “And the reason for that is the Democrats have talked about some big policy changes in the next Congress. Different parties have different policies, and as I’ve said, the Republicans have spent the last couple of sessions in Congress enacting business-friendly policies. The Democrats have said that they would like to focus more on individuals, and they’re talking about raising taxes on high-net-worth individuals and businesses.”

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Credit: AFBF 

The American Farm Bureau Federation will present its highest honors, the Distinguished Service Award and the Farm Bureau Founders Award, to former Secretary of Agriculture Sonny Perdue and Terry Gilbert, former chair of AFBF’s Women’s Leadership Committee, respectively, during the 2022 American Farm Bureau Convention, Jan. 7-12 in Atlanta, Georgia.

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Through a series of articles we call The State, the American Farm Bureau Federation’s Advocacy and Political Affairs team is providing analysis related to "the state of" various aspects related to advocacy and political trends impacting farmers and ranchers and rural Americans.

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