As discussions of the Build Back Better Act, a $3.5 trillion Congressional reconciliation bill, have increased within the past week, Oklahoma Farm Bureau has been closely monitoring the progression of the bill and is working to ensure farmers and ranchers are not burdened with additional taxation or other negative economic consequences. The current version of the bill could impose a significant “fee” or tax on methane emissions on the oil and gas sector but does not include a tax on agriculture. American Farm Bureau economists recently conducted an analysis on the bill to determine the potential impacts if it were […]

Oklahoma Farm Bureau, along with 45 state Farm Bureaus, the American Farm Bureau Federation and 280 organizations representing family-owned farms, ranches and agribusinesses, sent a letter today to congressional leaders urging them to leave important tax policies in place as they draft legislation implementing President Biden’s “Build Back Better” agenda. The letter addresses four key tax provisions that make it possible for farmers and ranchers to survive and pass their businesses on to the next generation: estate taxes, stepped-up basis, 199A small business deduction and like-kind exchanges. “The policies Congress enacts now will determine agricultural producers’ ability to secure affordable […]

Oklahoma livestock and poultry producers who did not previously qualify for the Coronavirus Food Assistance Program 2 can now apply to receive aid. With up to $1 billion made available through the Consolidate Appropriations Act, coverage has now been expanded to include chickens, poultry eggs, turkeys, hogs and pigs, ducks, geese, pheasants and quail including eligible breeding stock and eggs of all eligible poultry types produced under contract. “We appreciate USDA recognizing the incredible losses farmers endured during the height of the pandemic,” said American Farm Bureau Federation President Zippy Duvall. “When restaurants and schools closed, the demand for fresh […]

Oklahoma Farm Bureau discussed Sen. Jim Inhofe’s bill protecting farmers and ranchers’ ability to use critical GPS and precision agriculture technologies with the senator’s chief of staff Luke Holland during a recent video. The Recognizing and Ensuring Taxpayer Access to Infrastructure Necessary for GPS and Satellite Communications Act would protect producers from paying for interference of and damage to GPS devices because of Ligado Networks’ satellite usage. “Farm Bureau members know the importance of GPS to precision agriculture,” Holland said. “It improves your ability to enhance yields for crops. The huge machines operated are navigated by GPS to ensure precision […]

The Texas A&M University Agricultural and Food Policy Center recently released a report over the economic impacts on agricultural producers of proposed legislation regarding the stepped-up basis and estate taxes. Based on the proposed STEP Act and the For the 99.5%, the study analyzed the potential changes for producers passing operations down from generations to generations. Oklahoma Farm Bureau does not support added taxation for farmers and ranchers. Because agriculture Is capital intensive, added taxes through the proposed stepped-up basis and estate tax changes would hinder producers from transferring operations through generations. Read the full economic report here.

The Oklahoma Farm Bureau Legal Foundation recently donated $5,000 to the Coloradans for Animal Care campaign against Colorado Initiative 16, a citizen-led proposal that would have far-reaching implications for livestock producers across the country. Headed for the state’s ballot in November 2022, the measure would outlaw proven animal care practices including spaying and neutering, artificial insemination and pregnancy diagnosis, ban the slaughter of animals who have lived less than 25% of their estimated lifespan, and open the door to animal cruelty prosecution for common activities including rodeos, livestock shows and trail rides. “Colorado Initiative 16 isn’t just concerning for our […]

Oklahoma Farm Bureau members shared their concerns on agriculture and rural issues with Congressman Kevin Hern during an online meeting held Friday, June 11. From hauling hay to owning McDonald’s franchises and from swine farmer to aerospace engineer, Rep. Hern has vast experiences and uses those to represent Oklahoma’s First Congressional District, encompassing the Tulsa metropolitan area. Taxes Adding taxation to farmers and ranchers is always concerning, especially with the proposed repeal of stepped-up basis and increases in the capital gains and income tax rates, which could threaten the livelihoods and long-term economic sustainability of Oklahoma family farms and ranches. […]

Over the past several months, Oklahoma Farm Bureau has heard concern from members facing new challenges obtaining an agricultural sales tax exemption permit- a crucial business tool exempting nearly all inputs used in production agriculture from sales tax. OKFB, along with a broad coalition of statewide agriculture groups, worked to pass legislation this year to provide additional options to prove eligibility for the permit. The newly passed Senate Bill 422 will go into effect July 1, 2021, and allows Oklahoma producers to provide a document from one of four categories as proof of eligibility for the exemption. OKFB members attempting […]