Agricultural News
American Farm Bureau President Bob Stallman Says Congress on Deadline to Pass TPA
Tue, 28 Apr 2015 17:55:41 CDT
With negotiations of the Trans-Pacific Partnership (TPP) underway, American Farm Bureau President Bob Stallman is pleased to see Congress is making headway on Trade Promotion Authority (TPA). Once the log jam got cleared between Republicans and Democrats in the U.S. Senate, he said that was a good indication TPA would be addressed.
"There are still some hurdles to get over, but we really need to get this finished in May," Stallman said.
The finalization of the Trans Pacific Partnership negotiations are hanging on to what the U.S. Congress does. Stallman said the best deals are still waiting to occur, as our negotiating partners want to be sure the U.S. passes TPA. Stallman said this ensures negotiators that the agreement will be voted by Congress with a up or down vote on the whole agreement. He said it's been a tough negotiation as this is the first significant attempt to address sensitive products.
Trade agreements, such as the TPP are designed to reduce tariffs over time and increase tariff free quotas. Stallman said this will lead to more free and open trade, which will benefit U.S. farmers and ranchers.
Radio Oklahoma Network Farm Director Ron Hays caught up with AFBF President Bob Stallman in Washington D.C. during the National Association of Farm Broadcasting annual Washington Watch fly-in. Click or tap on the LISTENBAR below to hear the full conversation.
Congress also has made progress in addressing the "Death Tax". Last week the House of Representatives voted in favor of total repeal of the federal estate tax. Stallman said this was a positive vote, but it difficult to get a standalone estate tax bill in place as President Barack Obama would likely veto the bill. Stallman said this vote highlights the importance of the issue, as Congress moves forward with tax reform.
Getting a broader tax reform package passed would be beneficial to America's farmers and ranchers. Stallman said along with estate tax, Congress needs to address capital gains tax and depreciation deductions.
In the interview, Stallman also addresses American Farm Bureau's role in the Beef Checkoff Working Group and the outlook for increasing the federal beef checkoff along with the outlook of America's farmers and ranchers during this time of high cattle prices and low crop prices.
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