Biden tax plan puts U.S. farms at risk, says Boozman
Farmers could face huge tax bills if President Biden succeeds in raising capital gains tax rates and eliminating a loophole for inherited assets such as farmland, said the senior Republican on the Senate Agriculture Committee. The proposals are unpopular in farm country.
Arid weather trims corn and soybean outlook
With drought expanding in the Midwest, the corn and soybean crops are in notably worse condition than a week ago, said the USDA Crop Progress report on Monday.
Today’s Quick Hits
Conservation Reserve deadlines: The final day to offer land under the “general” enrollment for the Conservation Reserve is July 23 and the signup for the CRP Grasslands provision will run July 12 to Aug. 20. (Farm Service Agency)
Drought hits Des Moines: Low water on the Raccoon River, the main source of drinking water for Des Moines and its suburbs, prompted the local water utility to ask residents for the first time since 2012 to voluntarily reduce lawn and garden watering. (Iowa Capital Dispatch)
Klamath water priorities: Years of negotiations and court cases since the last major drought in the Klamath Basin affirm that the government must prioritize tribal rights to water and protect endangered species ahead of irrigators. (High Country News)
USFS chief to retire: Forest Service chief Vicki Christiansen, who has led the agency since October 2018, will retire in August to end a 40-year career in forestry; she is the first chief in eight decades not to spend the majority of their career with the agency. (Forest Service)
Payments favor four states: Three of every ten dollars in pandemic payments to farmers and ranchers have gone to Iowa, California, Nebraska and Minnesota, according to program data; payments total $24.9 billion since they began in May 2020. (USDA)
