Fischer: No tax bill until August or later

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Sen. Deb Fischer, R-Neb., a member. of the Senate Agriculture Committee, said Thursday that Congress is unlikely to pass a bill that includes tax measures until August or later.
Speaking at a Politico agriculture event, Fischer said that the budget reconciliation bill should cover national security, “unleash American energy,” secure the border, and include measures to extend the tax cuts that will expire at the end of 2025.
Asked if August would be a realistic time to expect passage of that bill, Fischer said “it may take until August or later” because the tax issues are so complicated.
On the conflict between the House budget resolution that calls for $230 billion in cuts from programs under the jurisdiction of the House Agriculture Committee and $1 billion in the Senate resolution, with most of that cut expected to come from the Supplemental Nutrition Assistance Program, Fischer said that the Senate “will have to come together” on what the compromise will be.
On the net farm bill, Fischer said the No. 1 issue will be crop insurance, but that technology and connectivity will also be important.
On President Trump’s tariffs, Fischer said that “when you talk about tariffs people in agriculture get a little nervous” because farm products are subject to retaliation. But she added that “across Nebraska there is tremendous support for President Trump and what he is trying to do” to develop “fair markets.”
Fischer said that President Biden had allowed imports of Brazilian ethanol without duties, but that American ethanol faces an 18% tariffs in Brazil.
Nebraskans, she said, “are supportive of giving the president time to make deals to have a more level playing field,” partly because he “got a good deal with the U.S.-Mexico-Canada Agreement on trade and because he had good trade relations with China.”
Fischer also noted that Agriculture Secretary Brooke Rollins has promised that if there is retaliation, “farmers will be taken care of,” but she added that farmers “want trade, not checks.”
On the issue of whether there is enough money in the Commodity Credit Corporation, USDA’s line of credit at the Treasury, to help farmers, Fischer said, “we will have to wait and see.”
Asked about the Trump administration’s decision to cancel more than $1 billion in agreements to purchase locally produced fresh food for schools and food banks, Fischer said that “canned food is also wholesome.”
