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MO Farm Bureau against Inflation Reduction Act

Missouri Farm Bureau is urging U.S. Representatives from the state to vote against the Inflation Reduction Act.

Missouri Farm Bureau President Garrett Hawkins says he’s afraid the Inflation Reduction Act will make inflation worse. He tells Brownfield the bill focuses too narrowly specific energy sources…

“At this critical time, we need to be talking about energy policy and ways that we boost all of domestic energy production, and that’s where this reconciliation package falls short,” Hawkins said.

The bill looks to increase funding to resource energy to decrease costs of sources like electric and solar with provisions for biofuels.

The bill would also impose a 15 percent minimum tax on companies making more than $1 billion and creates a new tax on certain stock trades. 

Hawkins said the proposed tax changes could also further weaken the economy.

“We believe it’s the wrong time to be talking about tax increases when we have an economy that’s facing the headwinds that we are today.”

Missouri Farm Bureau is sending a letter to legislators from the state urging them to vote against the bill when it comes to a vote in the House. 

Brownfield interviewed Hawkins at the Missouri State Fair on Thursday.