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Wisconsin Ag News Headlines |
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New Farm Bureau President Says Farm Bill is Needed in 2013
Wisconsin Ag Connection - 01/04/2013
The new leader of the state's largest farm organization calls the recent fiscal cliff negotiations a lost opportunity for true farm policy reform. On Thursday, Wisconsin Farm Bureau President Jim Holte, a beef and crop farmer from Elk Mound, said passage of a new farm bill needs to be a priority of Congress in
2013. But he was glad to see that farmers have been granted some protections under the nine-month extension of the previous farm law.
"We are disappointed that Congress did not agree on a new five-year farm bill that would have provided true reform to federal crop and dairy programs, and enhanced risk management tools," Holte said.
Despite a push from various groups to reform federal dairy policies, an extension of the previous farm bill does bring back the Milk Income Loss Contract program, which acts as a safety net for dairy farmers when feed costs exceed the price they receive for their milk.
"In lieu of extensive dairy reform, Wisconsin dairy farmers appreciate having this safety mechanism back in place," Holte said.
Meanwhile, the Farm Bureau does support the permanent changes to the estate tax laws that were made as part of the fiscal cliff negotiations. The exemption rate will remain at $5 million with a taxable rate of 40 percent on anything exceeding the $5 million exemption. At the beginning of 2013 that figure was set to change to a $1 million exemption and 55 percent rate, with no spousal exemption. These rates and the spousal exemption now become permanent law.
Holte says the changes to the estate tax law are extremely important to Wisconsin farm families who look to pass their businesses on to the next generation.
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