Link benefits to conservation
As the feared year-end “fiscal cliff” approaches without a federal spending and taxing agreement in sight, the farm bill languishes in Congress.
Among the impasse’s threats for some farmers are potential hikes in the estate tax as well as capital gains tax on soaring land values. Dairy farmers’ support programs are also at risk as they expire Jan. 1. Some economists expect big price increases in retail dairy products if that occurs.
All of those issues may yet be resolved before year’s end. But a bigger issue less likely to be addressed affects more Iowa farmers and taxpayers over the long term: subsidized crop insurance.
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