GFB Urges President to Leave Tax Advantages and Land Sales Near Record
**Georgia Farm Bureau signed onto a letter to Congressional leaders urging them to leave important tax policies in place as they draft legislation for President Biden’s “Build Back Better” agenda.
www.morningagclips.com reports, the letter addresses four key tax provisions that allow farmers and ranchers to survive and pass their businesses on to the next generation: estate taxes, stepped-up basis, 199A small business deduction and like-kind exchanges.
More than 370 million acres are expected to change hands in the next two decades.
**President Biden has nominated Elaine Trevino for chief agricultural trade negotiator at the U.S. Trade Representative’s Office.
Trevino is President of the Almond Alliance of California and former Deputy Secretary at the California Department of Agriculture.
American Farm Bureau Federation President Zippy Duvall welcomes the nomination, saying Trevino brings opportunities to create new trade agreements with the European Union and Great Britain, as well as expanding the China Phase 1 agreement.
**The pace of land sales picked up this year for Farmers National Company that reports it’s on track for a near-record or record sales year on several fronts.
The higher land prices have spurred an increased number of landowners to sell, with some wanting to complete the sale before year-end due to uncertainty about potential tax law changes.
The question becomes whether the increased sale activity will continue into 2022.