While attending the Oklahoma Farm Bureau Convention, KC Sheperd spoke to Oklahoma Representative Kevin Hern, District 1, about whether the tax cuts initiated by Former President Trump and whether they will expire or increase since his reelection.
Hern believes that Trump will reward American companies for doing business in America. “I think that is part of his reducing the corporate rate from twenty-one percent to fifteen percent. He knows how important farmers and ranchers are to the American dream by feeding Americans and keeping us less dependent on other people around the world. “
He also believes that this is also why Trump pushes predominant energy production as Trump has been quoted as saying that the real gold in America is under our feet. Hern says this is important for the security of the nation.
Hern believes that the farm bill will be extended to be reviewed under President-Elect Trump’s tenure. “Right now, we’ve got to fund the government. We are currently funded until December 20th. It’s important to get that done before he comes into office,” he said. “Also, we have an expiration of the debt ceiling at the end of January, so we need to get that taken care of before he gets into office so that we can have a clean first 100 days to get a lot of the policies done that he’s been talking about on the campaign trail.”
Hern mentioned that people are concerned about the expiration of tax codes, and what that means for farm succession plans. If the farm bill expires, many heirs will be forced to sell part of the farm to pay the taxes on it.
“Had Kamala Harris taken office, and there are still Democrats in place who want this, is to have taxation on unrealized gains,” Hern said. “This is very problematic with the increase in value of farmland. That didn’t happen, but that’s always in the back of their minds for the Democrats to push.
“When you compare the policy of the Democrats and the Republicans today, Republicans want to keep more money in your pocket so you can spend it on your family, your business, and your farm and not have to ask the Federal government for it back.”
He pointed out the chasm between the two parties and expressed gratitude that Republicans will hold the House, the Senate, and the Presidency for the next two years.
As an advocate for farmers, Hern plans to instruct Congress on the importance of farmers by examining which foreign companies currently own the larger packing houses, production facilities, and large farms. He also hopes to find the balance between directing farmers in who they can sell their farms to in a free market capitalist environment while taking national security into account.
“It is more than just buying land around our military installations. It is who owns the majority of our production of crops and cattle in the United States,” Hern stated. “Congressional U.S. Ag Committee Chairman G.T. Thompson, from Pennsylvania, has done a great job of educating the committees and everyone in Congress about everything going on.”
He emphasized the importance of educating the thirty new Congressional members and the swift passage of the farm bill. He said that his goal from the beginning has been to reduce the footprint of the government and increase the footprint of families, churches, and communities.
“The only way we can do that is to put more money back into the American people’s pocket,” he said. “We start that by making the expiring tax code permanent. We know as members of Congress that we have two years, for sure, until our reelection, so we need to make the most of the next 18 months to be sure that we are doing what we have said, and what Trump said, and to help him get it done.”
