VOICES OF ILLINOIS AGRICULTURE
Join Todd Friday January 25th for an evening of agricultural camaraderie. We'll share a little Illinois wine, eat some great grand championship pork, hear stories from Paul Coolley, do a little Ag Outlook with Wayne Nelson, Jacquie Voeks, Steve Freed, and Gary Schnitkey, and best of all dine with Orion Samuelson. Your $100 ticket buys the meal, the show, and a signed copy of the Big O's new book! Even better, the funds raised will support the College of ACES Agricultural Communications and Hospitality Management programs; two of Todd's favorites.
Register today @ www.ifr.illinois.edu/voa or call 217-333-9355
SENATE PASSES FISCAL CLIFF DEAL
....House agrees reluctantly.
ESTATE TAX - top tax rates on large estates raised to 40%, with a $5 million exemption estates inherited from individuals ($10 million on family estates). The exemptions, if enacted, will be indexed for inflation.
CAPITAL GAINS - capital gains and dividends over $400,000 for individuals and $450,000 for couples taxed at 20%. 15% for lower income levels.
FARM BILL - extended by 9 months.
The increase in corn used for ethanol has been a major driver of crop prices in the New Era that began in the Fall of 2006. In the face of one of the worst droughts of the last century this summer, there have been numerous calls to limit the policy incentives to use corn for ethanol production in the upcoming year. The U.S. Environmental Protection Agency (EPA) is currently considering formal requests for this potential relief. While ethanol has garnered nearly all of the headlines in recent years, its role as the leading driver of crop prices may be nearing an end.
University of Illinois Ag Economist Darrel Good discusses the Crop Production and WASDE reports.
Planning is underway now for the 2013 All Day Ag Outlook Meeting. If you have a great idea or something you want to see, drop Dave an e-mail at email@example.com or call at 217-333-7300. We consider the meeting a partnership and are always open to providing the information you need the most!!!!!