Estate Tax Expiration and Suits to Stop Tariffs
From the Ag Information Network, this is your Agribusiness Update.
**Many provisions in the 2017 Tax Cuts and Jobs Act are set to expire this year, many that provide important relief for farm families.
For some, grieving the loss of a loved one comes with an additional burden, that being a hefty tax on everything their family member left them.
Without an act of Congress, the estate tax exemption will drop by 50% next year, putting thousands of family farms at risk.
**At the direction of Ag Secretary Brooke Rollins, guidance was given to all State agencies to enhance identity and immigration verification practices when determining eligibility for the Supplemental Nutrition Assistance Program.
This would enhance eligibility verification systems to ensure that taxpayer funded benefits exclude any ineligible alien.
Rollins says we’re stewards of taxpayer dollars, and it’s our duty to ensure states confirm the identity and verify the immigration status of SNAP applicants.
**Twelve states have sued the Trump administration to stop its tariff policy.
Yahoo says the lawsuit challenges Trump’s claim that he can arbitrarily impose tariffs based on the International Emergency Economic Powers Act.
The suit asks the court to declare the tariffs to be illegal and to block government agencies from enforcing them.
The states include Oregon, Arizona, Colorado, Connecticut, Delaware, Illinois, Maine, Minnesota, Nevada, New Mexico, New York, and Vermont.
