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Tax reform bills will affect Iowa’s farmers and ranchers

At Iowa Farmers Union’s annual convention earlier this month, if tax reform was raised, it was out of concern over who would benefit, and at what cost. IFU’s family farmer members had greater concern for low crop prices, increased corporate consolidation, and efforts to improve on-farm conservation practices. And their alternative priorities track with broader American sentiment, as the rest of America seems resigned to accept that current tax reform efforts just aren’t for them. A recent Quinnipiac poll found Americans oppose current tax bills by a margin of two to one, and CBS found that 70 percent of respondent don’t think tax reform should be a priority.With so many challenges facing the country and rural America in particular, you, like me, might be asking what is Washington thinking? The next congressional agenda item appears to be entitlement reform out of concern over the skyrocketing national debt. At the same time and by Congress’s own estimate, these tax reform bills will add between $1-$1.45 trillion to the debt even after economic growth is factored in. As an American, its alarming to me that we will cut programs like Medicaid, social security, and nutrition programs to offset tax cuts that analysts predict will be a windfall for corporations and the wealthy.

 

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The Gazette