Poll: Tax Reform Needed for American Farmers
USAgNet - 08/10/2017
A commanding majority of American voters support tax reform, a nationwide poll shows, while most voters also support tax changes that would benefit America's farm and ranch families.
The survey conducted by Morning Consult found that seven out of 10 voters agreed passing tax reform legislation should be a priority for Congress. More than half of voters polled also expressed support for specific tax reform provisions that would benefit
farmers and ranchers, such as:
- Allowing farmers to deduct machinery purchases in the year those purchases are made;
- Allowing farmers and ranchers to average their income;
- Decreasing capital gains taxes; and
- Repealing the estate tax.
"Americans are ready for tax reform, and many know the toll that taxes take on our farm and ranch families," AFBF President Zippy Duvall said. "Congress must take action to provide tax relief, and farmers and ranchers will be sharing that message with their
lawmakers until this job gets done."
Tax rates are one key area ripe for reform, according to the Morning Consult poll. A majority of voters polled (63 percent) say federal income tax rates are too high. Seventy-two percent of voters support lower federal income tax rates for farmers, a matter
supported strongly across party lines. There was even greater support for lower federal income tax rates for individuals (82 percent), small businesses (80 percent) and family owned businesses (77 percent).
By a 3-1 margin (52-18 percent) voters overwhelmingly recognize that the current U.S. tax system is unfair to farmers in many regards. Two in three voters went so far as to say that farmers and ranchers should be extended special tax treatment due to the
combination of challenges and risks that are specific to agriculture. That sentiment was shared across party lines.