Dec. 22: The National Corn Growers Association’s Public Policy Action Team continually helps ensure that farmers’ interests are represented in national government. In 2010 the team, under the leadership of new chair Anthony Bush, will focus on tax issues that impact grower profitability and that therefore help discourage a proud tradition of agriculture upon which the United States relies.
The Public Policy Action Team discussed priorities for 2010 during a December meeting held in St. Louis, Mo. Bush reports that the team will focus on such tax issues as those involving the transfer of assets from one generation to another, lowering both the capital gains and overall income tax rates. The team will also continue to work on crop insurance issues as they arise.
“Every corn grower is a small business person. While some farms may be larger than others, essentially each individual grower is an entrepreneur,” said Bush. “As the tax code is the single greatest factor impacting small business, it is essential that PPAT focuses in this area.”
With regard to crop insurance, the team is currently conducting two studies, through Dr. Bruce Babcock of Iowa State University and Dr. Gary Schnitkey of the University of Illinois, that will provide producers with crucial information that can be used to determine if crop insurance rates properly reflect the insurance already inherent in the seed they use. The studies will also provide information that NCGA can use when weighing in on federal crop insurance issues on Capitol Hill.