USDA Farm Loan Relief and Death Tax Repeal Act

USDA Farm Loan Relief and Death Tax Repeal Act

Bob Larson
Bob Larson
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.

**The USDA is providing additional financial relief for farm

loan borrowers who are facing economic difficulties.

The 2022 Inflation Reduction Act provided $3.1 billion to help distressed borrowers.

In October, $800 million in assistance went to help 11,000 delinquent or distressed borrowers, plus another 2,100 borrowers who had farms liquidated yet still had remaining debt.

Ag Secretary Tom Vilsack announced another $123 million in funding would be allocated, beginning this month.

**Farmer sentiment weakened again in March as the Purdue University-CME Group Ag Economy Barometer fell 8 points to a reading of 117.

Both the Index of Current Conditions and Index of Future Expectations declined 8 points in March leaving the Current Conditions Index at 126 and the Future Expectations Index at 113.

Weaker prices for key commodities including wheat, corn, and soybeans from mid-February through mid-March were a key

factor behind this month's weaker sentiment reading.

**Some 41 Senators reintroduced legislation to permanently repeal the federal estate tax.

The “Death Tax Repeal Act” would end a tax that hits family-run farms, ranches, and businesses hard after the owner’s death.

South Dakota Republican John Thune says, family-owned farms and ranches often bear the brunt of this tax, which makes it difficult and costly to pass these businesses down to future generations.

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