Farmers Face $9 Billion Tax Hike: Act Now!

LISTEN UP, AMERICA! The clock is ticking, and Congress is playing with fire. The Tax Cuts and Jobs Act (TCJA) is set to expire at the end of this year, and if lawmakers don’t act fast, farmers and ranchers across the country will be hit with a staggering $9 BILLION tax increase. That’s right, folks – we’re talking about a massive blow to the heart of rural America.

The American Farm Bureau Federation has crunched the numbers, and the results are alarming. The size of a federal tax bill can make or break farm profitability, particularly for small farms on the brink of breaking even. Each dollar that comes out of a farm family’s bank account to pay taxes is one less they can spend on improvements to their homes and farms, one less to hire an additional worker, one less to spend at other businesses in their community and one less they can put toward growing food, fiber and fuel.

The TCJA provided crucial relief for farm families, but many of those provisions are set to expire. We’re talking about capital expense deductions, qualified business income deductions, and the estate tax – all of which will be affected if Congress doesn’t act. The average farm would pay an additional $5,125 per year in taxes. That’s a massive hit to an industry already struggling with razor-thin margins and considerable losses.

Farm Bureau President Zippy Duvall put it bluntly: “Farm families, like all families in America, are struggling with higher prices. Farmers’ paychecks have shrunk at the same time because what they’re paid for their product has bottomed out, threatening the economic sustainability of rural America. Congress now has the opportunity to provide some stability for the men and women who work every day to ensure pantries are stocked for families across our country.”

But the impact doesn’t stop at the farm gate. Tax hikes could lead to potential job cuts as farmers look for ways to save on expenses. Agriculture could lose as many as 49,000 jobs, equaling $3 billion in wages. That’s a devastating blow to rural communities that depend on the agricultural sector for employment and economic stability.

So, what can you do? Call your representatives and demand action! Tell them to extend the TCJA provisions and provide some much-needed stability for our farmers and ranchers. This is a no-brainer, folks – the future of rural America is at stake.

Don’t let Congress drop the ball on this one. The time to act is NOW!