There is a lot happening in Washington D.C. right now. America’s cattlemen are looking ahead to next year and are hoping the Trump Administration takes action on expiring tax breaks.
“If we do see the ‘death tax’ limits revert back to those pre-’17 levels, then that’s going to affect about 61 percent of our survey respondents. And that is not something that we take lightly. A third of our farmers have already had to pay the ‘death tax’ once, and from that number, another 35 percent have had to pay it more than once,” said Kent Bacus.
Bacus says he is also paying close attention to land values. They have gone up in recent years, but he says that does not always mean an increase in cash flow. He says farmers and ranchers would always prefer to have more money in their pockets over paying higher taxes.
