Posted Wed, 01/02/2013 - 4:08pm
To address the so-called "fiscal cliff," Congress passed the American Taxpayer Relief Act January 1, 2013. The new legislation is a combination of mandatory tax increases and government spending cuts and includes a modification of the estate tax and a short-term extension of most programs in the recently-expired 2008 Farm Bill.
In response to the passage of a short-term farm bill extension, AFR President Terry Detrick stated: