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Minnesota State Cattlemen’s Association encouraged by proposed tax provisions

The Minnesota State Cattlemen’s Association is encouraged by tax provisions included in the One Big Beautiful Bill.

Executive director Kaitlyn Root says both the House and Senate reconciliation packages address the estate tax.

“With the death tax, like in the House-passed text, the estate and gift tax exemption amount is increased to $15 million per individual and $30 million per couple. That’s adjusted for inflation annually, and it would make that exemption permanent. So we would really like to see that get passed.”

She tells Brownfield both reconciliation bills also permanently extend itemized deductions for personal casualty losses resulting from federally declared disasters.

“Lowering taxes on farms and ranches is a priority for us. High taxes really prevent producers from expanding their operations and they prevent producers from passing their farm or ranch on to the next generation.”

Other policy priorities for the Minnesota State Cattlemen’s Association include funding for a Foot-and-Mouth Disease vaccine bank and strengthening the Livestock Risk Protection Program.