Beef Buzz News
NCBA President Jerry Bohn Talks How the Biden Administration Could Impact Beef Producers
Tue, 10 Aug 2021 11:35:58 CDT
Today’s Beef Buzz, from the 2021 Cattle Industry Convention in Nashville, Tennessee, is a service of Farm Data Services of Stillwater.
Listen to Ron's Conversation with Jerry Bohn
Farming and Ranching is a laborious process, but sometimes the hardest work is in the politics. President Biden recently proposed a budget to congress, aimed at reforming some of the nation’s tax codes. The proposed tax legislation is targeted at the ultra-wealthy, but American farmers and ranchers are caught in the crossfire.
Jerry Bohn, president of the National Cattlemen’s Beef Association, caught up with Ron Hays at this year’s CattleCon21 in Nashville, Tennessee. Bohn said he is most concerned about President Biden’s plan in doing away with stepped-up basis.
“Doing away with step-up in basis would hurt the ability of ranchers and farmers to pass their operation onto the next generation,” Bohn said.
Bohn said, he and his team at NCBA are going to fight hard to make certain that stepped-up basis continues to be in place for agricultural producers.
Also on the radar are some other potential changes in capital gains laws and various state tax legislation changes and the potential change to a Trump-administration era water-protection rule, according to Bohn.
On the other hand, there are some things the Biden Administration and the NCBA agree on, in this case, the issue of “Product of USA” labeling.
“It was brought to our attention by some of our members that the ‘product of USA’ label was being misused,” Bohn said. “As we began to investigate, we found the label was being put on products that did not come from the United States.”
In their investigation, Bohn said they even found products that had two stickers - one that said, “Product of USA” and another that was from the actual country of origin.
According to Bohn, the NCBA has petitioned the USDA eliminate the “Product of USA” label and replace it with a new label which will read, “Processed in USA.” He said that new label would cover all phases of product movement.
Bohn said, the USDA is very committed to making this happen, but it is a long process with the end still about two years away.
Click on the LISTEN BAR below to hear more from Jerry Bohn at CattleCon21 in Nashville, Tennessee.
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