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Producers say HR 1 provisions, estate-tax change and market programs eased labor and capital costs for specialty crops
Summary
During a panel discussion, specialty‑crop producers and agricultural officials said provisions in the federal budget bill HR 1, signed July 4, have provided immediate support for labor costs, tax relief for capital investments and an expanded estate‑tax exemption that can help with farm succession.
During a panel discussion, specialty‑crop producers and agricultural officials said provisions in the federal budget bill HR 1, signed July 4, have provided immediate support for labor costs, tax relief for capital investments and an expanded estate‑tax exemption that can help with farm succession. "The provisions in your recently passed budget bill are extremely helpful, and we're very grateful for them," a producer told the panel, adding that the change to a $15,000,000 lifetime exemption per individual made transferring land in high‑cost areas feasible.
The comments came amid questions about increases to the Market Access Program and foreign market development funding. "Congressman, I would just say that anything that adds to our, competitiveness, both globally and domestically, we would appreciate," one industry representative said.
Why it matters: Producers identified…
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