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A look at the policy to-do list in 2025
Ag economic and policy advisor at Farm Credit MidAmerica Matt Erickson says one of the top priorities will be tackling expiring tax cuts, which are crucial for America’s farmers and ranchers.
“When we talk about that, it’s what could happen with the estate tax and what could happen with the corporate rate,” he says. “Along with things like bonus depreciation.”
He tells Brownfield any changes could impact the US economy.
“We’re still at a relatively low unemployment rate,” he says. “We’re still at a job openings per unemployed level above one point. We’re still at a wage growth of over 4%, which is above historical norms.”
The Tax Cuts and Jobs Act is set to expire at the end of 2025, if Congress doesn’t tackle it this year, tax code reverts to pre-2017 levels.
Brownfield interviewed Erickson at the 2025 Purdue Top Farmer Conference.
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