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NFU warns of farm bill cuts from tax plans

 

The head of the National Farmers Union is concerned tax reform bills will leave a significant impact on available farm bill funding.

Roger Johnson says both the House and Senate tax bills would increase the federal deficit by $1.5 trillion over the next ten years which will need to be offset in other areas like farm bill funding.  “This proposal asks farmers and ranchers to trade any possible tax benefits for the elimination of farm safety net payments like ARC and PLC.”

A report from the Congressional Budget Office says the tax plans could create automatic spending cuts up to $136 billion in the next fiscal year which Johnson says could put at least $9.5 billion in farm subsidies at risk.

The Senate is expected to pick up its tax reform bill this next week and the continuing resolution to fund the government expires December 8^th.