John,

President Trump’s Tax Cuts and Jobs Act of 2017 is set to expire, potentially leading to tax hikes and the loss of key deductions and exemptions across the board.

This would put family farms and small businesses in Minnesota's Seventh District at risk, especially with the possible loss of the estate tax exemption that protects family legacies and the 20% deduction for small business income that helps them compete.

Read my recent op-ed in AGWEEK, where I argue why these cuts are so important for our jobs, our farms, and our future generations of farmers and their families:

CLICK TO READ

The defeat of the Harris-Walz ticket was a huge relief for farmers and business owners across the nation since Harris had threatened to let all of the tax breaks expire. The election allowed us to avert that devastating tax hike, but there is still work to do.

Last April, Ways and Means Chair Jason Smith announced ten tax teams to study key provisions of the 2017 tax cuts. I am part of the Rural America team and the Supply Chains team and look forward to proposing legislative solutions for how to best integrate the important tax cuts mentioned in the op-ed into the America First agenda.

With gratitude,

Michelle Fischbach

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