Tax Policy Could Change in 2025

2025 will be a big year for tax policy.

​The 2017 Tax Cut and Jobs Act is set to expire next year.

Director of government affairs at the American Farm Bureau Federation Dustin Sherer says there are a couple of provisions they want to see continued.

“It lowered rates, the higher phase out of the alternative minimum,” he says. “All these things combined created a better tax situation for farmers and ranchers.”

He tells Brownfield if the policy isn’t renewed, there are concerns.

“It could represent the largest tax hike in American history if nothing is done,” he says. “We want to make sure that Farm Bureau’s voice is heard as we continue to advocate for a stable tax environment.”

Sherer says finding a long-term solution to tax reform is a top priority for the membership.

Read more from Brownfield Ag News.