The American Farm Bureau recently sent a letter to all 100 U.S. senators expressing support for the Infrastructure Investment and Jobs Act, urging them to pass the bipartisan plan.
“Modernizing America’s transportation infrastructure continues to be a priority for our members, which is why we are supporting this bipartisan legislation,” said AFBF President Zippy Duvall.
“This legislation also provides critical investments that will expand broadband internet access and repair and upgrade aging western water infrastructure that is, in many cases, 50 to 100 years old and not adequate to meet today’s needs.”
Roughly $1 trillion in spending is detailed in the more than 2,700-page bill, including $110 billion for roads and bridges, $65 billion to expand broadband access, and $17 billion for ports and inland waterways.
“The Infrastructure Investments and Jobs Act is not only good for Michigan farmers, but a step forward in addressing our crumbling infrastructure that continues to plague many areas around the country,” said Andrew Vermeesch, Michigan Farm Bureau legislative counsel.
“For too long we have seen funding shortfalls in our country’s infrastructure, and failing to address this critical issue will only lead to more costly investments in the future and put Michigan agriculture at a disadvantage when competing on the global stage.”
There have been serious concerns that Congress could look to farmers to help pay for the infrastructure plan, namely by making changes to stepped-up basis, which could impose devastating tax burdens.
Thankfully, Duvall says that’s not in the cards right now.
“It is welcome news that senators did not place the burden of these investments on America’s farmers and ranchers through increased tax rates or by eliminating stepped-up basis,” added Duvall.
“We thank the senators who have spent months negotiating the deal and encourage the Senate to pass this investment in America’s future.”
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