Build Back Better Act Would Hurt Rural America
The American Farm Bureau Federation sent a letter to the U.S. House of Representatives today stating its opposition to the Build Back Better Act, also known as the reconciliation package. President Zippy Duvall commented on the Build Back Better Act.
“After watching months of contentious, partisan debate surrounding the Build Back Better Act, AFBF stands in opposition to the legislation.
“While some elements of the reconciliation package would benefit agriculture, the massive amount of spending and tax increases required to pay for the plan outweigh the gains we would see in rural America. We appreciate House efforts to protect farmers and ranchers by leaving key tax provisions untouched. Thousands of small businesses, however, would still be affected by tax increases, forcing them to pass increased costs to families across the nation.
“The economy is still recovering from the pandemic, supply chains are stressed, and inflation is putting pressure on America’s pocketbooks. Now is not the time to put an additional burden on families struggling to make ends meet. We urge lawmakers to find common ground and work in a bipartisan manner to address the challenges facing our nation.”
Montana Farm Bureau President Cyndi Johnson said, “Montana Farm Bureau Federation stands with American Farm Bureau in opposition to the text of the Build Back Better reconciliation bill. As Montana farmers and ranchers, we appreciate the effort from both sides of the Congressional aisle to protect or prohibit those specific tax issues which could have impacted us so negatively – eliminating stepped up basis, estate and transfer taxes, and increased capital gains taxes.”
“There are too many other provisions that remain in the bill which would be detrimental to agriculture and other small businesses in Montana including, but not limited to, significant increases in income taxes to successful businesses, veiled Medicare tax increases, huge increases in OSHA fines for regulatory infractions, carbon/methane taxes on oil and gas production, and the immense increase in overall spending,” noted Johnson, a small grains farmer from Conrad.
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