Tag: farm

Report: Farm, Food Prices Rise Under Net-Zero Climate Rules

The Center Square
Farmer Working

Farms and families will pay significantly more under the Biden administration’s net-zero climate policies, a new report from an Ohio-based policy group says.

The Buckeye Institute’s Net-Zero Climate-Control Policies Will Fail the Farm shows farmers will see a 34% rise in operational costs under the policies and family grocery bills will increase 15% based on modeling.

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House Republicans Request Government Watchdog Investigate Foreign Investments in American Farmland

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More than 100 House Republicans are asking a government watchdog to probe foreign investments in U.S. farmland, including those by China, which they say may present national and food security concerns.

Led by Reps. Glenn Thompson of Pennsylvania and James Comer of Kentucky, the lawmakers on Saturday called on the Government Accountability Office (GAO) to study foreign farmland ownership and how the U.S. government is monitoring acquisitions, a letter shows. There has been an uptick in foreign investments and ownership, which may be “underreported” due to the U.S. Agriculture Department’s (USDA) unreliable data, the Republicans say.

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Ohio Group Joins Fight Against California’s Livestock Regulations

The Center Square

An Ohio group joined the fight against a California proposition that it believes imposes illegal regulations on the pork industry across the country.

The Buckeye Institute, a Columbus-based policy group, filed an amicus brief to the U.S. Supreme Court recently in a case filed by the National Pork Producers Council that challenges California’s Proposition 12, saying it violates the Constitution’s Commerce Clause, which restricts states from regulating commerce outside their borders.

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Farmers Cry Foul over Biden’s Death Tax Proposal

The Center Square
Woman with ball cap on, out in the fields of a farm

President Joe Biden has proposed amending the inheritance tax, also known as the “death tax,” but farmers around the country are raising concerns about the plan.

In the American Families Plan introduced earlier this year, Biden proposed repealing the “step-up in basis” in tax law. The stepped-up basis is a tax provision that allows an heir to report the value of an asset at the time of inheriting it, essentially not paying gains taxes on how much the assets increased in value during the lifetime of the deceased. This allows heirs to avoid gains taxes altogether if they sell the inheritance immediately.

Under Biden’s change, heirs would be forced to pay taxes on the appreciation of the assets, potentially over the entire lifetime of the recently deceased relative. 

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