ARC and PLC will pay out record amounts to producers this year as the amounts were raised under last year’s Working Families Tax Cut Act.
That is United States Senator Chuck Grassley (R-IA) referencing ARC and PLC, he says that the programs have been adjusted and now feature updated revenue floors and reference prices.
The tax cut bill also increased payment limits, made crop insurance more affordable, and disaster aid more accessible.
Grassley also says that farmers will benefit from added tax breaks.
Senator Grassley says that the tax cut bill also addresses the estate tax.
Senator Grassley made his comments on Tuesday during his weekly ag conference call with farm broadcasters and reporters.
