News Update
April 17, 2015
Bull Condition for Optimal Fertility
Breeding season for herd bulls means a lot of exercise and plenty of work if they are to get their important job done. Just like any human athlete, a breeding bull needs to be in top phyical condition going into the breeding season. That means he’s slim and trim, says Dee Whittier, professor of large-animal clinical sciences at Virginia Tech.
“The fat bull is not very athletic, and more apt to be lazy. I think body score 5 (with 1 being emaciated and 9 being obese) is fine for a bull; he doesn’t need to be any fatter than that. A BCS 5 bull isn’t pretty (he’s in his ‘working clothes’), but he will settle more cows than the fat bull. It is crucial that these bulls not be overly fat,” Whittier says.
Read the full article at the Angus Beef Bulletin EXTRA.
Donate Items for the Angus Foundation Silent Auction
The Angus Foundation’s annual silent auction is a popular attraction during the National Junior Angus Show (NJAS) each year. Donors are encouraged to act now and reserve their items a place in the fundraising event, hosted July 12-18 in Tulsa, Okla. Final bids benefit education, youth and research initiatives to support the Angus breed.
Items donated to the Angus Foundation for the silent auction may come from individual Angus friends, farms and corporations, or state junior and adult Angus associations. Examples include prints, paintings, gift baskets, books, cattle supplies, jewelry, clothing and Angus collectibles. The junior state Angus association that donates the highest selling silent auction item will receive $100.
For more details, view the complete news release.
House Votes to Repeal the Death Tax
The House voted 240 to 179 April 16 for full repeal of the Death Tax, a tax that is threatening the livelihoods of farmers and ranchers across the country. National Cattlemen’s Beef Association (NCBA) President Philip Ellis said H.R 1105 Death Tax Repeal Act of 2015 is common sense legislation necessary for rural America.
“When did it become appropriate to tax death?” said Ellis, a multi-generational rancher from Wyoming. “This is a punitive tax on farmers and ranchers that is inaccurately framed as a tax on the rich. The U.S. Department of Agriculture even names the death tax as one of the top contributors to the breakup of multigenerational farming and ranching operations.”
At the end of 2012, Congress passed the American Taxpayer Relief Act (ATRA), narrowly avoiding a return to a $1 million estate tax exemption with a 55% tax rate. This legislation provided a permanent exemption of the estate tax of $5 million per individual, $10 million per couple and raised the top tax rate to 40%. While ATRA provided some relief for some farmers and ranchers, fixing the underlying problem is critical. With rising farm land values across America the estate tax will continue to plague farm and ranch families until it is repealed.
“The estate tax is a disservice to agriculture because we are a land-based, capital-intensive industry short of funds, and with few options for paying estate taxes when they come due,” said Ellis. “Unfortunately, all too often at the time of death, farming and ranching families are forced to sell off land, farm equipment, parts of the operation or take out loans to pay off tax liabilities and attorney’s fees.”
Ellis added, “We urge the Senate to act soon and vote for full repeal of the death tax to prevent an undeserved death sentence to many family-owned farms and ranches.”
American Farm Bureau Federation and NFU
Respond to the Death Tax Repeal
Following the House vote for a full repeal of the Death Tax, two leading agriculture organizations offered the following statements.
American Farm Bureau Federation (AFBF) President Bob Stallman: “Farmers and ranchers need tax laws that protect their family businesses. They don’t want to be punished for their success. With House passage of the Death Tax Repeal Act of 2015, we are one step closer to tax reform that will help farm families invest in the future and pass their businesses on to the next generation.
Farmers’ and ranchers’ assets are tied up in the land, not sitting in a bank. And farm families certainly don’t have cash on hand to pay a double tax at death. This leaves many surviving family members with few options other than selling off part or all of their land to pay estate taxes. Too often, cashing in these assets can cripple their business.
Previous congressional action to increase the exemption provided important relief, but estate taxes still weigh on many farm families. Some must slow growth to remain exempt. We need tax policies that help capital-intensive businesses like farms and ranches and that don’t stand in the way of sons and daughters ready to follow the agricultural legacy of their parents.”
National Farmers Union (NFU) President Roger Johnson: “Repeal of the estate tax puts a larger tax burden on those that are currently exempted from the tax. Over 99% of small farms do not face the tax, as estates under $5.43 million, $10.86 million for couples, are exempted from it. As a result, NFU opposes completely eliminating the tax.
The U.S. Department of Agriculture estimates that only 0.6% of farms have to pay an estate tax and that another 2.1% would have to file returns but would not owe any taxes. It is not the estate tax that hurts family farmers. It is repealing the tax that would give them an increased share of the overall tax load.”
Johnson also noted that the move would add to the nation’s debt. “The Joint Committee on Taxation estimates that repealing the estate tax without offsetting revenue or spending will increase the deficit by $269 billion over 10 years. This drag on the U.S. economy will bring rural America down with it.”
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