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 panel: Put the brakes on China-owned farmland in U.S.

China would be barred from buying more U.S. farmland and the land already in its possession would become ineligible for farm subsidies under language approved by the House Appropriations Committee on Wednesday. On a voice vote, the provision was added to a $197 billion USDA-FDA funding bill headed for a vote on the House floor.

Exempt farmers from Biden tax plan, ask 13 House Democrats

Thirteen House Democrats representing farm districts asked party leaders on Thursday to exempt farmers from President Biden's proposal to apply the capital gains tax more stringently. Iowa Rep. Cindy Axne, one of the organizers of the letter, said "a significant number of Democrats" support the farmer exemption.

Estate tax touches only a few farm families

Despite its fearsome reputation, only a comparative handful of farm households are obliged to file a federal estate-tax return and most of them will not pay the government any money, said USDA economists. Large tax exemptions — $11.58 million per person in 2020 — shield most estates from tax liability.

USDA data paint a nuanced portrait of absentee landlords

In agricultural lore, the absentee landlord is often a resented figure, an outsider who reaps an income from the labor of the farmer and takes away the profits rather than investing in the local community. The modern-day situation is more nuanced, says a USDA study which finds that, for the most part, "non-operating landlords" (NOLS) live fairly close to their property.

Report calls for farmland access for young and people of color

The main obstacle preventing a younger generation from entering farming is a lack of access to land, the National Young Farmers Coalition said in a recent report that advocates for programs that would advance a new generation of farmers and promote racial equity in the sector. “Access to land is the number one barrier facing aspiring farmers today, and this barrier is even greater for farmers of color,” said the director of the group's Land Access Program. (No paywall)

Senate to vote on funding for ‘heirs property’ initiative

The 2018 farm bill included a provision to make it easier for farmers operating on so-called heirs property — land that passed from one generation of a family to another without a clear title — to obtain a USDA farm number and thus gain access to a multitude of government programs. The Senate is scheduled to vote this afternoon on an amendment by Alabama Sen. Doug Jones to provide $5 million for a re-lending program that would be a step toward resolving ownership issues.

CAP report highlights inequities for black farmers

Since the end of Reconstruction, following the Civil War, many black farmers have felt the twin pressures of hardship and neglect, reinforced by systematic discrimination from government agencies and financial institutions. The Center for American Progress, a left-leaning policy institute, issued a recent report advocating for policy changes to correct those inequities, many of which it says remain today. (No paywall)

The biggest U.S. landowners own nearly as many acres as New England states

Billed as "the magazine of the American landowner, The Land Report says the largest 100 landowners in the nation acquired an additional 2 million acres during 2017, an area larger than Delaware. All told, the 100 largest private land holders own 40.2 million acres, equivalent to the land mass of the New England states with Vermont excluded, said the Washington Post.