Agricultural News
American Farmers & Ranchers Working the Lame Duck
Mon, 15 Nov 2010 14:29:28 CST
American Farmers & Ranchers’ President Terry Detrick and others are traveling to Washington DC this week to meet with legislators about issues concerning Oklahoma producers that may be decided in the “Lame Duck” session of Congress starting today, November 15, 2010. Traveling with Detrick are AFR Board Members, Ed Preble, Norman, and Melody Cummings, Elk City, along with AFR Secretary Bobby Green, Okemah, and Paul Jackson, Ringling, OK.
Detrick stated, “There are many issues that the current sitting Congress may decide prior to the change of leadership that will occur in January. Issues such as inheritance tax, and school nutrition reauthorization will lapse absent action by Congress in December. AFR wants to ensure that the Lame Duck Congress acts in the best interest of our citizens and according to the strong message sent to Washington during the recent election cycle.”
One issue of strong concern to AFR members is tax exemptions affecting inheritance enacted in 2001 and 2003 which are set to sunset at midnight on December 31, 2010. Unless Congress acts by that date, the estate tax rate will be reinstated at a rate of 55 percent on estates worth $1 million or more. “For farmers and ranchers who have their entire family assets tied up in land used to raise food and fiber for the nation, the increased tax rate would devastate their ability to continue farming,” according to Detrick. Detrick the AFR Leadership will work to further AFR’s grassroots developed policy that states ‘in the absence of total elimination, we recommend a federal estate tax exemption to be set at $4 million and indexed thereafter to inflation.’
“Other pivotal issues that we hope to address are: a repeal of the requirement that 1099’s be issued for any purchase of goods or services in excess of $600; passage of the Senate version of the reauthorization of school nutrition; an extension of the GIPSA Rule comment period to allow for an economic impact study, federal motor carrier safety regulation exemption for agriculture, and opposition of climate change legislation that would negatively affect agricultural producers,” according to Detrick.
“AFR is working hard to carry out the public policy initiatives that were developed and passed by our membership to ensure that farmers and ranchers both in Oklahoma and nationwide are able to continue producing the highest quality food and fiber for our people,” said Detrick.
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