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Agricultural News


NCBA's Colin Woodall Pleased With Death Tax Outcome, Looks Forward to 2013 Farm Bill Process

Wed, 02 Jan 2013 16:43:38 CST

NCBA's Colin Woodall Pleased With Death Tax Outcome, Looks Forward to 2013 Farm Bill Process
In the wake of Congress's approval of legislation averting a 'fiscal cliff,' there were some winners and some losers. Colin Woodall, vice president of governmental affairs for the National Cattlemen's Beef Association spoke recently with Radio Oklahoma Network Farm Director Ron Hays about how the cattle industry will be affected.


He said that the estate tax was high on his organization's list of legislative priorities last year and he believes the deal that emerged from Congress was mostly positive for ag producers.


"The death tax was our No. 1 priority in this package. And what we got is a mixed bag. We were able to maintain our exemption amount at five million dollars per person and ten million dollars per couple. We were also able to make sure those levels were indexed to inflation so that they grow over time. And we were also able to maintain the step up in basis. The one thing that we were not able to maintain, however, is the tax rate on everything above those exemption amounts. That moved from 35 percent to 40 percent-   Overall, we feel pretty good about this."


He said another good thing was that this legislation is a permanent rather than temporary fix. That means the NCBA won't automatically be fighting the issue again in two years. That will free up resources, he said, for the NCBA to fight for further modifications of the death tax from this baseline.


One of the major disappointments with the package that passed Congress, Woodall said, is the fact that it did not revive the disaster programs that had expired at the end of 2011. He said the NCBA would be working as closely as possible with the House and Senate on new farm legislation to address that issue.


"We're going to have to continue to work with the appropriators to try to find some options and, more importantly, just work as closely as we can with both House and Senate agriculture committees to get a new bill done as quickly as possible so we have a long-term disaster program that is put in place and is ready to go. Because we know that just coming off this historic drought and looking at going into yet another year of drought we're going to have a lot of producers who are going to need that help."


Woodall said he was optimistic that the disaster programs would be restored in the new farm bill.


"I think that we will be successful in whatever form this farm bill, the 2013 farm bill, takes in getting some of that done. The question will be just how quickly can we get these bills done and get them signed into law so that we can take the farm bill discussion off the table."


Woodall says there will be some new faces in Congress, but he doesn't think that will greatly change the ability to get a new farm bill passed. He said the leaders and players of the 2012 process will be the same.


One face that will soon be leaving Washington is that of EPA Administrator Lisa Jackson. Woodall said he believes that will be very beneficial for farmers and ranchers.


"That was a very good Christmas present to learn that she was moving on. She's been a burr under our saddle for quite some time. We have butted heads with her on a whole host of issues. One of the biggest ones is what she was trying to do to regulate ag dust. It took us over two years of hard work to get to that point and then when she didn't regulate it she came out and said, 'Well, I was never going to do that anyway.' It's just kind of that little game that she's played with agriculture that we didn't appreciate much. Of course the question now is, 'Who will take that slot?' It brings back the adage that the devil that you know is sometimes better than the one you don't. I expect to see some names start to float up in the next couple of weeks."


He said there won't be much break in the action in Washington as one Congressional session ends and another one begins. He said the challenges in the next two months will be daunting as a new farm bill is due to be marked up in February. That will also be the time when the sequestration cuts that were postponed from January 1st will be considered. It is becoming apparent that Congress will have fewer dollars to spend on a 2013 farm program than it did in 2012.


"This is probably the biggest tragedy of this entire discussion is that writing this 2013 bill is not going to be any easier than writing the 2012 bill. And I think a lot of people will discover as we get to that point that we're up against the debt ceiling and sequestration again. A lot of folks are going to be saying, 'I wish we had passed that 2012 bill.'"


You can hear Ron Hays's full interview with Colin Woodall by clicking on the LISTEN BAR below.



   
   

Colin Woodall talks winners and losers in fiscal cliff legislation.
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