House panel approves $66 billion ag bill; change in ‘stepped-up basis’ is abandoned
The Democratic-controlled House Agriculture Committee approved its $66 billion part of President Biden's $3.5 trillion "build back better" bill on a party-line vote Monday, with Chairman David Scott saying he was confident that $28 billion will be added later for land stewardship and climate mitigation by farmers. Meanwhile, House Democrats said they would not alter a tax break that helps farmers pass land from generation to generation.
House ag committee details spending for massive budget bill
Democrats on the House Agriculture Committee released details of their spending plan on Thursday, including $23 billion to combat wildfires and millions more to battle climate change. The committee is set to mark up the legislation on Friday, part of the budget reconciliation, or Build Back Better bill, expected to total $3.5 trillion.
Sen. Booker sees budget reconciliation advancing debt relief for farmers of color
With a historic program to provide debt relief for farmers of color tied up in litigation, the Biden administration and Congress must use additional tools to get financial support to struggling farmers, experts say. Though they remain confident in USDA’s support of the program, attorneys, …