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Vilsack: Obama tax cuts benefit farm families
U.S. Agriculture Secretary Tom Vilsack says the Obama tax cuts have benefits for farm and rural families. In an interview with Brownfield, the Secretary said that the compromise the President reached with Republican lawmakers will help those families stretch scarce resources.
“And then for farm families and ranch families, obviously they’re keeping an eye on the discussions about the estate tax and the need for relief to avoid going back to rates January one of 2011,” said Secretary Vilsack. “That would make it very difficult, as we’re seeing rising land prices.”
The package includes tax incentive extensions for both ethanol and biodiesel, according to Secretary Vilsack.
“Now is not the time to retreat, now is the time to continue to provide these industries, ethanol and biodiesel, opportunities to mature,” said the Secretary, “to allow us to expand production and to become a little bit more energy secure from our own resources and at the same time creating good-paying jobs and better bottom lines for farmers.”
Vilsack says the current Obama proposal includes the dollar-per-gallon incentive for biodiesel, but he says the rate at which ethanol will be incentivized is yet to be determined.
Livestock interests want the ethanol and biodiesel credits dropped. The California Milk Producers Council says the cost of feeding cows has increased $4.00 for every 100 lbs of milk produced. The National Cattlemen’s Beef Association says the subsidies should end because of their negative impact on cattlemen.
Brownfield reporter Bob Meyer contributed to this article.
AUDIO: Secretary Tom Vilsack (6 min. MP3)
Tags: Biodiesel, Congress, Ethanol, Farm Income/Prices, USDA
“Obama Tax Cuts”????? What is Vilasack talking about here? A couple of weeks ago, those same tax measures were called the “Bush Tax Cuts” and the Obama Administration characterized them as economic disasters brought on by purely evil greed. Now the President has his laqueys running around telling how necessary these cuts are and how much they will help the economy. This demonstrates a serious lack of desirable character in our President and his Administration.