The American Farm Bureau Federation is urging the Senate to promptly pass a bill that includes many important farm-related tax relief provisions that expired at the end of 2009. The American Workers, State, and Business Relief Act also includes renewable energy tax incentives, provisions to maintain vital rural health care services and emergency disaster assistance. In a letter, AFBF President Bob Stallman added extensions of tax incentives for biodiesel, renewable diesel and for small agri-biodiesel producers to the list of areas Farm Bureau supports.
In addition, Farm Bureau supports the extension of expiring tax provisions that include the five-year depreciation for farm business machinery and equipment, bonus depreciation, the enhanced charitable deduction for donated food and the enhanced tax deduction for donating a conservation easement.
Stallman said the inclusion of ad hoc disaster assistance in the bill is needed because many agricultural disasters in 2009 occurred on farms that will not be eligible for assistance under the disaster package included in the 2008 farm bill. He emphasized that the ad hoc disaster assistance could be the only thing that will keep some farmers on their farms.