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wissanu01/iStock/Thinkstock. Fully funded export programs are critical to help U.S. farmers, ranchers and food exporters keep pace with the rest of the world’s exporting countries.
American farmers and rural businesses need continued investment in the Market Access Program (MAP) and the Foreign Market Development (FMD) Program to make up for lost export opportunities in the pandemic and to fight foreign competition. That is the message the Coalition to Promote U.S. Agricultural Exports sent in letters to House and Senate Agricultural Appropriations Subcommittee leaders. The letter was signed by 130 agricultural organizations, including American Feed Industry Association, National Chicken Council, National Pork Producers Council, National Milk Producers Federation, and National Cattleman’s Beef Association, North American Meat Institute, and the U.S. Meat Export Federation.
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WNKY 40 News
March 12, 2021
WASHINGTON, D.C. – U.S. Senate Republican Leader Mitch McConnell (R-KY) joined Senate Republican Whip John Thune (R-SD), a member of the tax-writing Senate Finance Committee, and dozens of their Senate colleagues in reintroducing legislation to permanently repeal the federal estate tax, more commonly known as the death tax. Senator McConnell is an original cosponsor of Senator Thune’s bill,
the Death Tax Repeal Act of 2021, according to a release from McConnell’s office.
“Kentucky farm families and small businesses have enough to deal with during this pandemic. They shouldn’t also have to worry about an unfair death tax when they pass their livelihoods down to the next generation,”
Members of Congress are again looking to repeal the estate tax, commonly referred to as the death tax among agricultural circles. Although the tax reforms enacted during the Trump Administration offered a limited repeal of the estate tax, this bill would allow for a complete repeal of the estate tax.
The Death Tax Repeal Act of 2021 was introduced this week by Sen. John Thune, R-S.D. with 25 Republican co-sponsors, and Reps. Sanford Bishop, D-Ga., and Jason Smith, R-Mo., who have 120 -cosponsors, however, Bishop is the only Democrat. Some Democrat proposals have threatened an elimination of the estate tax as well as stepped-up basis.