“A global glut of food production has sent U.S. farm revenues down sharply,” noted AFBF President Zippy Duvall in a February 10, 2016 statement. Farm income is down 56 percent in the past two years alone. “Yet, the president’s just-released budget would cut 27 USDA programs, including a 10-year, $18 billion cut to the federal crop insurance programs so important to farmers,” Duvall said.
Further, “The president’s budget would also harm farm and ranch families through capital gains taxes and special provisions that would force new generations to pay much higher taxes on any land and assets they inherit. Such treatment is a recipe for farm fragmentation and an unnecessary obstacle for agriculture's next generation,” he added.