Family Farmer and Rancher Tax Fairness Act

What it does

If Congress passes it, the Family Farmer and Rancher Tax Fairness Act would remove the tax liability on assistance provided by the Inflation Reduction Act (IRA, Sections 22006 and 22007) to distressed farmers. Section 22006 provided debt relief and Section 22007 made payments to partially remedy past discrimination against farmers of color by USDA’s farm lending programs.

Currently, farm loan borrowers who are already at financial risk are facing tax liability on the IRA assistance. The Family Farmer and Rancher Tax Fairness Act exempts these payments from federal income taxes.

Who supports this bill?

Senators Cory Booker, Debbie Stabenow, Raphael Warnock and Tina Smith introduced this bill. In the Senate, this bill is referred to as S.93 and these Senators are already supporting the bill. This bill has not yet been introduced in the House of Representatives.

This bill is endorsed by dozens of organizations, including the Federation of Southern Cooperatives and Intertribal Agriculture Council.

Want to support this bill?

If your Senators and House Representative aren’t already on the list of cosponsors for the bill:

• Ask your two Senators to “cosponsor the Family Farmer and Rancher Tax Fairness Act, S.93.”
• Ask your House Representative to “support a companion bill to the Senate’s Family Farmer and Rancher Tax Fairness Act, S.93.”

If your elected officials are already supporting this bill, you can always contact them to thank them and help spread the word among your networks.

Resources

If you’d like to learn more about the Family Farmer and Rancher Tax Fairness Act, you can:

• Find instructions for calling or writing your Senators (tip: enter your address)
• Track the bill’s progress on Congress.gov or GovTrack
• Learn why lawmakers are supporting this bill (Senator Cory Booker’s press release)
• Read the full bill text

See more bills worthy of your support in the 2023 Farm Bill.