Two of the top leaders in Congress, the speaker and the House Ways and Means Committee chairman, are running into stiff opposition to their border adjustment tax.One of the major “American First” issues that emerged with the election of President Trump and from which he has since distanced himself (i.e., labeling China a currency manipulator, reducing support for NATO, etc.) now finds itself withering for lack of support. That is the Border Adjustment Tax (BAT), also called the Destination-Based Cash Flow Tax by House Speaker Paul Ryan (R-Wisconsin) and House Ways and Means Committee Chairman Kevin Brady (R-Texas), the ones carrying the torch on this issue. The Brady-Ryan plan called for:
Replacing the corporate income tax with a 20 perc...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Yesterday, the USDA’s Agricultural Marketing Service (AMS) released a new report of negotiated cash purchases of cattle under the mandatory price report. The report included Colorado, New Mexico, Oklahoma, Texas, and Kansas. The goal of the report was to solve the confidentiality issues e...
Key Takeaways: U.S. soybean crushing began in 1911 and saw its most rapid expansion during the 1930s amid the broader agricultural and technology revolutions of the time. After peaking in the early 2000s, the soybean crushing industry went through a downturn as poor crush margins forced...
