October 31, 2014
GET OUT THE AG VOTE Message to Indiana farmers: Please take time from a bountiful harvest to support ag friendly candidates on Tuesday, Nov. 4. Farmers need friendly legislators in the Indiana General Assembly to address priority issues: escalating farmland taxes, unwelcome involuntary annexation, protection of water resources for agriculture and items in the state budget that impact farms and those living in rural areas. See the list of all candidates endorsed by Indiana Farm Bureau ELECT. These endorsements were based on their record of service or potential to serve Indiana farmers and the agricultural sector.
RESPONSES NEEDED IN TAX POSTCARD CAMPAIGN BY MAIL OR ONLINE FORM Legislators need to hear the frustration farmers are facing with taxes that are too high and prices that are very low. The Oct. 6 edition of The Hoosier Farmer included a self-addressed, postage paid postcard that asks farmer members to provide Indiana Farm Bureau with their most recent property tax information. An online form is also available.
INFB’s lobbying team will use information from the postcards to give real-life examples of the level of property tax paid by each farming operation – whether the land is owned or rented. The postcard does not request any information about income or income taxes and will only be used by INFB to emphasize the burden property taxes are becoming for farmers across the state.
ACTION: TAX EXTENDER NEGOTIATIONS PLANNED FOR LAME DUCK SESSION The House and Senate will be negotiating a tax extender bill during the lame duck session. In total, 55 tax provisions expired at the end of 2013. Following is a list of the key provisions about which Farm Bureau has policy, along with their legislative status.
Section 179 Small Business Expensing:
HOUSE: Passed permanent $500,000 deduction.
SENATE: Finance Committee passed two-year extension of $500,000 deduction as part of its package.
HOUSE: Passed permanent 50 percent bonus depreciation and expanded it to include the planting of fruit- or nut-bearing trees and vines.
SENATE: Finance Committee passed a two-year extension of 50 percent bonus depreciation as part of its package.
Bio Fuels and Power:
- Cellulosic Biofuel Producer Tax Credit.
- Biodiesel and Renewable Diesel Tax Credits.
- Wind Energy Production Tax Credit.
HOUSE: No action taken.
SENATE: Finance Committee passed a two-year extension as part of its package.
Indiana Farm Bureau asks members to contact their representatives and both senators in support of the extension of the provisions listed provisions above. A permanent extension is endorsed for provisions made permanent by the House for Section 179 and accelerated depreciation. Members should ask Senators Coats and Donnelly to accept these improvements.
ACTION: MEMBER COMMENTS SOUGHT FOR PROPOSED EPA GREENHOUSE GAS REGULATIONS In June 2013, President Obama issued an executive memorandum directing the Environmental Protection Agency to promulgate regulations to limit carbon emissions from both new and existing power plants. These two regulations will set the stage for similar regulations of other sectors of the economy, such as refining, chemicals, natural gas development, iron and steel, livestock operations and pulp and paper. On June 2, EPA released its proposed rule addressing emissions from existing power plants.
Last month, EPA announced an extension of the comment period for the existing power plant GHG regulation until Dec. 1. It is still expected that EPA will finalize the rule by June 2015.
Farm Bureau has created an FBACT Action Alert for Farm Bureau members to submit comments to EPA regarding its proposed Clean Power Plan. The deadline to submit comments is Dec.1.
More information about the NERA report.
TRICK OR TRUTH: WHAT THE EPA ISN’T TELLING YOU ABOUT ITS LATEST CLEAN WATER ACT RULE The American Farm Bureau Federation released a legal analysis earlier this week, “Trick or Truth? What EPA and the Corps of Engineers Are Not Saying About Their Waters of the U.S. Proposal.” The seven-page paper shows how a recent Environmental Protection Agency and U.S. Army Corps of Engineers “Q&A” misleads the public about their proposed expansion of federal jurisdiction over waters.
Farmers need to read the fine print. “Trick or Truth” will help them do that.
PURDUE TO NAME FARM AFTER LUGAR Purdue University will name its forestry and natural resources farm after a longtime U.S. Senator. Read more.
PETERSON BROTHERS RELEASE NEW FARM PARODY Watch I’m So Farmer.