BBB Debate
From the Ag Information Network, I’m Bob Larson. President Trump’s sweeping tax and budget bill is now law, but the partisan debate over its merits, including for agriculture, haven’t stopped …
THUNE … “Agriculture is the lifeblood of this country, but the last few years have been incredibly challenging for our agricultural producers.”
And days after the president signed his signature bill, Senate Majority Leader John Thune hailed its benefits for farmers and ranchers …
THUNE … “The job-creating 199a small business deduction and investment incentives that free up cash for small businesses, farmers, and ranchers to invest in their operations and their employees. And we included an even higher death tax threshold that will spare more family farms, ranches, and businesses from a potentially devastating tax.”
But Democratic Leader Chuck Schumer called the Trump bill “one of the most destructive pieces of legislation in modern history …
SCHUMER … “The biggest giveaway to billionaires ever, the biggest cuts to Medicaid, devastation to our nation’s healthcare economy and our clean energy economy, with millions of projected job losses. So many job losses that it could well cause us to fall into recession.”
Schumer and Democrats are readying their ammo for next year’s midterm elections.
Republicans are betting that farmers, factory workers, waiters, and waitresses will see more in their pockets by next year’s midterm elections, and that the economy, boosted by more spending, tax revenue, and key elements of a new farm bill, will shift into high gear and not recession.
