Beef Buzz News
NCBA Continues to Protect Cattle Producers from Funding Build Back Better in 2022
Wed, 29 Dec 2021 11:31:52 CST
Recently, the National Cattlemen's Beef Association hosted a year-end media review. Ethan Lane, vice president of Government Affairs for the NCBA, said one of the things the NCBA focused on throughout 2021 is the Biden-Harris Build Back Better Framework.
"First and foremost, we have to start where we are ending, and that is with the Build Back Better initiative and some of the really large, aggressive spending plans that were advanced by this administration as they took office in January," Lane said. "We have spent most of this year trying to educate members on Capitol Hill and consumers around the country about the very real threat of including pay force for this multi-trillion-dollar spending package that could negatively affect cattle producers around the country."
An example of what Lane is referring to is the elimination of stepped-up basis, which directly impacts the longevity of multigenerational farms and ranches. Other threats to agricultural families include increasing the death tax limit and increasing capital gains taxes.
According to Lane, these threats come at a time when the cattle industry is expecting to transition about 40% of operations to the next generation in the next 15 years.
"That culminated into one of the largest grassroots campaigns this industry has ever launched," Lane said. "I am really proud of the work that the NCBA did leading that charge in Washington D.C."
The pushback against what many people view as tax penalties for successful, family-owned operations, not only benefits U.S. cattle producers but also small-business owners all over the country, Lane said.
"(Capitol) Hill hears us, they have heard our producers and they have managed to craft bills, whether they survive or not on their own, that do not include onerous pay-fors in rural America and the cattle industry in particular," Lane said.
Other agricultural groups supported pushback against these tax initiatives, Lane said.
Lane said the NCBA is going to continue this focus into 2022 as the next version of the BBBF is presented to congress.
Click on the LISTEN BAR below to hear more from Ron Hays and Ethan Lane as they talk about what policy the NCBA is looking out for in 2022.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
Listen to Ron's conversation with Ethan here.
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