Makes Rural America Great Again

Immediate Tax Relief to Farmers, Ranchers, & Small Businesses in Rural America

Permanent enhanced Death Tax Relief.
- Prevents the Death Tax from hitting over 2 million family-owned farms who would otherwise see their limitation cut in half. Ensures that family-owned farms and ranches can be passed down to the next generation.
Permanent Small Business Deduction.
- 98% of farms in the U.S. are pass-throughs. Prevents the Small Business Deduction from ever expiring and increases to 23%.
Extended 100% Immediate Expensing.
- Ensures farmers can expense today the tools that secure tomorrow’s harvests.
Permanent Doubled Small Business Expensing.
- Increases section 179 Small Business Expensing threshold to $2.5M. Agricultural industry utilizes one-fifth of all Small Business Expensing deductions across the American economy.
Immediate Expensing for NEW manufacturing/production structures in America.
- Enhances cost recovery for new agricultural and farm investments in Rural America.
Renews Opportunity Zone (OZ) program to better target Rural America.
- Provides new OZ incentives to drive investments to rural and underserved areas.

Makes lower tax rates and brackets, doubled Guaranteed Standard Deduction, and Child Tax Credit from the 2017 Trump Tax Cuts permanent:
- Making these provisions permanent stops the $1,700 tax hike on American families.
- Further increases the Standard Deduction and Child Tax Credit for the Trump Presidency.
Protects Rural America’s ability to help deliver fuels for America:
- Ensures American farmers are not crowded out by Chinese cooking oil and other foreign imports in liquid fuel production markets.
Lowers the cost of borrowing for America’s farmers:
- Reduces the tax burden on interest income for loans secured by real property for agricultural production.
Raises the 1099-MISC threshold from $600 to $2,000:
- Lowers the administrative burden for small farmers and ranchers employing temporary and seasonal workers.

Following the enactment of the 2017 Trump Tax Cuts, small- and medium-sized family farms saw their effective tax rates decrease by up to 6%.
Should the rates and brackets from the Trump Tax Cuts expire, farm households would see their tax liabilities increase by nearly 12%.
If the 199A Small Business Deduction is allowed to expire, family farms utilizing the deduction will see their tax bill increase by $2,500.
The average Child Tax Credit (CTC) claimed by farm households is $3,770. If the CTC expansion expires, that average would decrease by 64% to $1,331.