Agriculture

 The House Republican tax-reform bill would preserve interest expensing for most farmers and would phase out the estate tax, but some producers would lose a tax deduction that their cooperatives pass on to them.  The bill also significantly expands immediate expensing and depreciation provisions that are in current law. However, tax experts say there are other provisions, including new rules for pass-through entities and self-employment taxes, that could offset some of the benefits. [node:read-more:link]

The pioneers of the sustainable farming movement are mourning what they call the downfall of the organic program, following a Wednesday night vote by a group of government farming advisers that could determine the future of the $50 billion organic industry. At issue was whether a booming generation of hydroponic, aquaponic and aeroponic farms — which grow plants in nutrients without using soil, frequently indoors — could continue to sell their produce under the “organic” label.In a series of narrow votes, an advisory board to the U.S. [node:read-more:link]

By a vote of 8 to 7, the National Organic Standards Board on Nov. 1 rejected proposals to make hydroponic and aquaponic production methods prohibited under the U.S. Department of Agriculture’s National Organic Program.The board did vote to make aeroponics a prohibited practice by a vote of 14 in favor of the ban, with one member abstaining. That won’t have an impact on organic supply, Frankel said, as he understands there are no aeroponic operations currently certified as organic. [node:read-more:link]

On November 1st, the National Organic Standards Board finally made a decision on one of the most divisive issues in the organic world: should crops grown in water, containers, or otherwise not in the ground be allowed to call themselves organic? The decision is thus: hydroponic and container gardens will remain eligible for organic certification.This is a debate that’s much more complicated than it seems. [node:read-more:link]

K-Coe Isom, an agricultural accounting and consulting firm,  said there were provisions in the tax bill that would hamper growth for farmers and ranchers and could increase their taxes. These include caps on the interest-expense deduction, scaling back carry-back of losses, the elimination of the Domestic Production Activities Deduction and limits on like-kind exchanges.The tax plan would cap business-interest deductions at 30% of adjusted taxable income. [node:read-more:link]

USDA’s Animal and Plant Health Inspection Service (APHIS) announced it is withdrawing a proposed rule to revise the agency’s biotechnology regulations and will re-engage with stakeholders to determine the most effective, science-based approach for regulating the products of modern biotechnology while protecting plant health. [node:read-more:link]

 U.S. Secretary of Agriculture Sonny Perdue today announced a slate of Farm Service Agency (FSA) and Rural Development (RD) State Directors, all serving as appointees of President Donald J. Trump.  FSA State Directors help implement U.S. Department of Agriculture (USDA) policies in planning, organizing, and administering FSA programs in their respective states. They are also responsible for running the day-to-day activities of the state FSA office.  Similarly, RD State Directors work to help improve the economy and quality of life in rural America. [node:read-more:link]

Dairy Farmers of America, a national dairy cooperative owned by family farmers, announced Nov. 2 the acquisition of Cumberland Dairy; a family-owned processor of ultra-pasteurized dairy products located in Bridgeton, N.J. [node:read-more:link]

DowDuPont announced that it intends to sell its cellulosic biofuels business and its first commercial project, a 30 million gallon per year cellulosic ethanol plant in Nevada, Iowa. The Nevada project is still going through start-up. The Nevada plant will be ‘kept warm’ but not operated going forward until a buyer is found. 90 workers are currently employed at the plant, and it can be assumed that this will be reduced to a skeleton staff until a buyer is found. [node:read-more:link]

A Gold Key Tour for a Florida family and delivery of their new 8245R John Deere tractor – the first 2018 tractor made in Waterloo, Iowa – has kicked off a series of events to celebrate the 100th anniversary of John Deere entering the tractor business. Deere hosted the Wade Purvis family of Naples, Florida, for the Gold Key event, during which customers can watch the final assembly of their newly purchased machine. The new tractor includes a commemorative badge that will be appear on several models of 2018 John Deere tractors including the 6 Series, 7 Series, 8 Series and 9 Series machines. [node:read-more:link]