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!!!!!
This week WILLAg Tuesday Closing Market Report Meteorologist Don Day is creating history. Don is also meteorologist to the Red Bull Stratos team attempting the highest space jump ever...
...Todd and Dave wish Don and jumper Felix Baumgartner all the best in this historic human endeavor.