Ag implications of the 2024 election

By Matt Reese

With taxes, the floundering farm bill and the increasingly challenging regulatory environment at the federal level, the next president and Congress will have significant implications for agriculture moving forward.

Taxes will be a particularly hot topic early on for the next presidential administration.

“This current tax policy is a carryover from Trump’s first presidency and a lot of those key positions with the Internal Revenue Code are set to expire here at the end of 2025, so the next Congress and the next president are really going to have a key role in shaping that,” said Ryan Conklin, with Wright and Moore Law Co. “Leading up to the election, we haven’t heard a whole lot of conversation on the Trump Tax Cuts and Jobs Act sunsets. I think the democratic conversation has been putting some proposals out there that I’d say don’t look very good for agriculture, but I would add to that back in 2021 when President Biden went in and a democratic Congress took over, there were a lot of proposals and a lot of ideas that came out on the tax code, and really none of them went anywhere.… Continue reading