News Update
November 18, 2014
Farm Bureau and Coalition Call for Lame-Duck Congress to Extend Key Tax Provisions
America’s farmers and ranchers are ready for Congress to act swiftly to restore tax provisions essential to boosting small businesses and rural economies, according to the American Farm Bureau Federation (AFBF).
In a letter to House and Senate leaders, AFBF urged members of both chambers to work across the aisle to renew and preserve important tax provisions that expired at the end of 2013.
“Farmers and ranchers rely on tax provisions that allow them to manage their cash flow and put that money back to work for their businesses,” said AFBF President Bob Stallman. “Section 179 and bonus depreciation are important tools that lend stability and help minimize risk in an unpredictable industry.”
Agriculture is overwhelmingly united in its support of Section 179 and bonus depreciation, which provide flexible means for farm and ranch businesses to write off and deduct business expenses. Groups from around the country, including the Broad Tax Extender Coalition, have sent letters of support. The coalition’s letter has been signed by more than 500 organizations.
“We’re seeing a broad level of support here because these tax provisions make for good business. They allow farmers and ranchers to plan wisely,” Stallman said. “Congress needs to act now if we’re going to see continued growth in the agriculture sector.”
Farm Bureau also called on Congress to renew tax incentives that would promote clean, renewable, domestic energy, as well as provisions that encourage donations of conservation easements and promote charitable donations to food banks.
Ag Groups Urge Congress to Act on Tax Extenders
Nov. 18, a number of agricultural groups, including the National Cattlemen’s Beef Association (NCBA) and the Public Lands Council (PLC), sent a letter to House and Senate leadership urging both houses to act on expired tax policies before the end of the year. NCBA President and Victoria, Texas, cattleman, Bob McCan, says this is a vital issue not just for agriculture, but for all businesses.
“Producers rely on a stable and predictable tax code in order to plan purchases, make investments and grow their business,” said McCan. “We are already at the eleventh hour for tax planning, and it is incredibly important that Congress pass these extenders as quickly as possible.”
Specifically, the letter asked Congress to focus on Section 179 small business expensing and bonus depreciation. These provisions allow businesses to maximize investments in years where they have positive cash flow by taking a greater depreciation amount upfront rather than follow the standard schedule. Set at $500,000 in 2013, the maximum amount a small business can currently deduct under Section 179 is $25,000.
“Agriculture relies heavily on large investments in machinery, equipment and other depreciable assets,” said McCan. “These tax provisions encourage cattlemen and women to make purchases and invest in expansion of their business, in turn investing in the expansion of rural America.”
‘Focus on Wheat’ added to Amarillo Farm and Ranch Show Educational Lineup
The Texas A&M AgriLife Extension Service will host a program on wheat during the Amarillo Farm and Ranch Show Dec. 2 in the Amarillo Civic Center Grand Plaza, 401 S. Buchanan St. in Amarillo.
“Focus on Wheat in the Texas Panhandle” will begin with registration at 1 p.m. and conclude at 5:40 p.m. Four Texas Department of Agriculture continuing education units — two general, one integrated pest management and one drift minimization — will be offered. Registration is $10 at the door.
“We have an excellent lineup of AgriLife Extension specialists across the state to discuss everything from pests to diseases and the best management practices to control them,” said Nathan Carr, AgriLife Extension agriculture and natural resources agent for Potter County.
The program will include:
- Overview of Texas wheat and AgriLife Extension programs: “A focus on new herbicides and application timing” — Clark Neely, AgriLife Extension state small grains specialist, College Station.
- Dealing with wheat disease management, fungicide and diagnostics: “A focus on High Plains virus, barley yellow dwarf and wheat streak mosaic” — Ron French, AgriLife Extension plant pathology specialist, Amarillo.
- Best management practices related to control of wheat pests: “A focus on wheat curl mites, Russian wheat aphids and greenbugs” — Ed Bynum, AgriLife Extension entomologist, Amarillo.
- Effects of alternative hosts and mite movement during the growing season: “A focus on the impact of temperature and water on diseases and viruses. A look at the wheat virus early detection system” — Jacob Price, Texas A&M AgriLife Research senior research associate, Amarillo.
- Breeding for resistance to wheat streak mosaic and the introduction of TAM 204 — Jackie Rudd, AgriLife Research wheat breeder, Amarillo.
- Impact of fertility and nitrogen on small grains: “What does a soil sample mean related to fertility and nutritional management needs of wheat?” — Calvin Trostle, AgriLife Extension agronomist, Lubbock.
- Plant growth regulators in wheat — Jourdan Bell, AgriLife Extension agronomist, Amarillo.
For more information on any of these AgriLife Extension programs, contact Carr at 806-373-0713 or rncarr@ag.tamu.edu.
Coastal Bend Beef Cattle Field Day set Dec. 5 in Taft, Texas
The Texas A&M AgriLife Extension Service in Nueces and San Patricio counties, along with the Nueces/San Patricio Livestock Task Force, will host the Coastal Bend Beef Cattle Field Day from 7:30 a.m.-2:30 p.m. Dec. 5.
The field day will be hosted at the Danny Wendland Farms, 7717 County Road 3963 in Taft. Program registration begins at 7:30 a.m.; presentations begin at 8 a.m. The registration fee is $20 per person, which includes lunch.
“This year’s field day will emphasize the importance of the animal that represents 50% of the genetic makeup of a cow herd — the bull,” said Jason Ott, AgriLife Extension agent for agriculture and natural resources in Nueces County.
The morning session will focus on profitable calf management practices, feeder cattle and breeder female prices in South Texas, new animal health products and regulations, and bull selection and care, Ott said.
“We’ll also have a herd health discussion, featuring a new ‘vet gun,’ ” he said. “Participants will have an opportunity to take a little target practice with this new animal health device that provides bulls with an easily applied dose of insecticide for fly control.”
Afternoon topics will include bull breeding soundness exams and embryo-transfer strategies.
“I would like to emphasize the importance of a bull breeding soundness exam,” said Bobby McCool, AgriLife Extension agent for agriculture and natural resources in San Patricio County. “At today’s high calf prices, one infertile bull could potentially result in a $30,000 loss in revenue per 25 cows.
“It’s just not worth the risk. I strongly urge cattle producers have their veterinarians do a breeding soundness exam on their bull battery and start the breeding season with a higher percentage for success,” he said.
Speakers include Mac Young, AgriLife Extension risk management program specialist, Corpus Christi; Levi Russell, AgriLife Extension economist, Corpus Christi; Julian Segura, Animal Health International; Joe Paschal, AgriLife Extension beef cattle specialist, Corpus Christi; Tobin Pennington, veterinarian, Corpus Christi; and Danny “Wanny” Wendland, Wendland Farms in Taft.
One Texas Department of Agriculture general continuing education unit will be offered, as well as one Beef Quality Assurance credit.
Seating is limited, so attendees are asked to RSVP to the AgriLIfe Extension office in Nueces County at 361-767-5223 or the San Patricio office at 361-364-6234 by Dec. 1.
For more information, please view the Angus Journal Virtual Library calendar of upcoming events here.