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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To get a snapshot of current feedlot cattle health management practices, USDA’s National Animal Health Monitoring System, in partnership with the National Agricultural Statistics Service, is conducting a national study on U.S. feedlots with at least 50 head.

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"And this act would certainly hope to subside that volatility," he said. "It's a bipartisan effort. We commend Sen. Deb Fisher for being the lead on this very important bill on a very important issue."

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