The Tax Cuts and Jobs Act is set to expire at the end of 2025. If it’s not renewed, farmers and ranchers will face significant tax hikes. Samantha Ayoub, an associate economist with the American Farm Bureau Federation, said farmers will be put at risk if those provisions expire.
Ayoub said several provisions in the Tax Cuts and Jobs Act were designed to boost economic activity and encourage investments.
While some progress has been made on making these provisions permanent, Ayoub said there’s more work to do.
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