Agricultural groups are worried about President Joe Biden's proposal to eliminate stepped-up basis on inherited assets above a proposed $1 million exemption for an individual, or $2 million for married couple. While the White House has stated that protections would be created so a family farm or business would not have to pay capital gains on a farm or business if the heirs continue to operate it, the proposal still raises concern with farm groups.
Representatives from the seed industry have stepped in to work with state regulators and EPA on potential cleanup plans for the AltEn ethanal plant in Mead, Nebraska. The site has millions of gallons of contaminated wastewater in ponds and 84,000 tons of contaminated wet cake that cannot be used for feed or applied to the soil.
A brake plant in Mexico just south of Brownsville, Texas, is the first to face a complaint under the USMCA over harassment allegations by the AFL-CIO, challenging the labor provisions in the trade agreement.
USDA officials provided an update this week on loan repayment of Farm Service Agency loans to socially disadvantaged farmers. Litigation has taken a twist as a Black farmer from Tennessee and his organization filed motions meant to block at least two federal lawsuits filed on behalf of white farmers.