Bipartisan bills call for elimination of the estate tax
EAU CLAIRE, Wis. (WEAU) - New bills introduced in Congress last week are getting a lot of support in farm country. The bipartisan bills call for eliminating the estate tax by calling for a complete repeal of that tax. One of the leading supporters of the bill is the American farm Bureau federation which claims the current tax threatens more than 74 thousand family farms and nearly half of all farmland in the country. The 2017 tax law changes temporarily doubled the estate tax exemption to $11 million per person through 2025. But if no changes are made that exemption will fall to 5 and a half million dollars after that.
April 27th will be a big day for the biofuels and the oil industry. That’s the day the U.S. Supreme Court will hear the refiners appeal of a lower court decision that invalidated 3 small refinery waivers from the Renewable Fuels Standard. The Environmental Protection Agency has said it agrees with the lower court decision and that it will not act on any further waiver requests until the High Court rules. About 66 waiver requests are now pending before the EPA.
We should soon get more guidance on how the Biden Administration really feels about world trade issues. That’s because President Biden’s nominee to be U.S. Trade Ambassador, Katherine Tai, is scheduled to have her nomination voted on this week on the Senate floor. Many feel there should be no problem with her confirmation by the full Senate.
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