Sunrise August 18: Grassley: Estate Tax Plan Doomed | 2021-08-18
Senator Chuck Grassley, one of the top Republicans on the Senate Finance Committee, said Democrats cannot pass a tax proposal that sounds the alarm bells for farmers. This includes a transfer tax on inherited assets which would nullify the benefits of the increased base.
“I don’t think they have the voice to do it, and I don’t think you’re going to find it in a bill that goes to the United States Senate,” Grassley told reporters Tuesday.
Senate Democrats have not released the specific tax measures they plan to use to pay for their $ 3.5 trillion spending program, but President Biden has proposed to start taxing all capital gains on death . Tax payable on farms would be deferred as long as they remain in business.
The Senate voted 99-0 last week for an amendment sponsored by GOP Senator Whip John Thune, RS.D., which called for “preserving” the current tax rules for the transfer of farms and businesses, including the “full benefit of the base increase” for inherited property.
Besides: The partisan budget reconciliation package also faces a cloudy future in the House, where Democrats are sharply divided.
Nine moderate Democrats called on the House to act on the Senate infrastructure bill before passing a budget resolution needed to advance the broader and partisan reconciliation measure. Corn House Speaker Nancy Pelosi briefed her fellow Democrats on Tuesday that the House will consider the resolution next week. âWhile the bipartisan infrastructure bill offers significant progress, it does not reflect the full vision of Democrats,â she wrote.
United States Expands Investigation into Organic Soybean Imports
The Department of Commerce’s International Trade Administration will complete its investigation into whether imports of organic soybean meal from India should be subject to duty later than expected.
The Commerce Department was due to conclude its “less than fair value” investigation on September 7, but that deadline has now been extended to October 27.
The International Trade Commission has already conducted a separate investigation and concluded that “there is a reasonable indication that an industry in the United States is suffering material injury as a result of imports of organic soybean meal from India”.
India exported about $ 249 million worth of organic soybean meal to the United States in 2020, up from $ 192 million in 2019, according to Commerce.
Refiners ready for another fight against E15 in court
The refining industry says it’s not worried the DC Circuit Court of Appeals will overturn a ruling that prevented the EPA from allowing summer sales of E15.
“The EPA has no different authority today than it did last month when the court unanimously ruled that the agency had exceeded its limits, and decades earlier, in applying a waiver to Clean Air Act at E15, “said an American Fuel spokesperson. and manufacturers of petrochemicals.
The biofuels industry and the National Corn Growers Association filed a petition on Tuesday requesting a rehearing of the July ruling, in which a three-judge panel ruled that the Trump administration did not have the legal authority to approve use of the E15 all year round.
Editor’s Note: There will be no weekly Agri-Pulse newsletter today or next week. The newsletter will return on September 1st. There will be no dawn the week of August 23. Dawn will return the week of August 30.
Groups urge Home Depot and Lowe’s to drop Roundup
Many environmental groups and other organizations are calling on Lowe’s and Home Depot to stop selling Roundup with glyphosate before Bayer pulls it off the residential market in 2023.
Bayer announced last month that it would stop using glyphosate in Roundup for purely legal, not safety, reasons: it wants to reduce the number of lawsuits filed by people alleging Roundup exposure caused their lymphoma not Hodgkin’s.
In letters to both companies, Friends of the Earth, Center for Food Safety, Sierra Club and over 100 other groups urged them “to lead the industry by immediately ending sales of Roundup and other glyphosate-based herbicides.” We also urge your company not to sell reformulated Roundup products unless the replacement active ingredients are genuinely safe for humans and pollinators. “
In another attempt to reduce exposure to future litigation, the company has just filed a petition with the Supreme Court seeking a review of a federal appeals court ruling that found that the federal pesticide law did not prevent states’ liability claims against Bayer.
Neither Lowe’s nor Home Depot responded to requests for comment.
Forest firefighters guaranteed at least $ 15 per hour
Nearly 15,000 firefighters from the Ministry of the Interior and the Forest Service will be paid at least $ 15 an hour as part of an initiative announced Tuesday.
The salary increase will take effect immediately, retroactive to June 30. Salary increase fulfills commitment made by President Biden when he announced a federal response to forest fires in June. The increase will benefit 3,500 of 5,000 firefighters in the interior and 11,300 of 14,500 in the Forest Service.
South African port hit again by cyberattack
South Africa’s Port of Durban – the largest port in sub-Saharan Africa and a major destination for fruits, vegetables, nuts, wine and poultry – was hit earlier this month by a cyber attack for the second time this summer, again resulting in a drastic reduction in productivity.
The attack “crippled the flow of goods in and out of the country” just days after unrelated civil unrest in the country put an end to all activities at the port, according to a USDA Foreign Agricultural Service report.
Container terminals were hit the hardest by the latest cyber attack, but bulk shipments of rice, corn and other grains were also affected.
He said it. âThe Senate exercised unilateral control over the infrastructure bill. If we want the priorities of the House to be taken into account, we cannot allow the same to happen in reconciliation. – Transport and Infrastructure Chamber Speaker Peter DeFazio, D-Ore., Calling on the House to delay action on the infrastructure bill until the larger and more partisan reconciliation measure be adopted.
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