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December 7, 2012
Volume 13
Issue 3
ACTION ALERT – DEATH TAX INCREASES IF CONGRESS DOES NOT ACT
Contact: Megan Ritter, mritter@infarmbureau.org or 317-692-7833
Congress needs to act before the end of the year on the estate or “death” tax. On January 1, 2013, the death tax exemption will shrink to $1 million and the top rate will jump to 55%.
There is still time to send emails to your congressman. Indiana Farm Bureau needs at least two members from each county Farm Bureau to send an email to Congress on the estate tax. Please be a part of the 10,000 Farm Bureau members expected to contact Congress and take action this year to stop a huge increase in the death tax. Take action HERE.
Numerous tax provisions will be up for debate during the lame duck as well as in the larger context of tax reform. Please stay informed and involved in this issue in the coming months.
ACTION ALERT - FARM BILL
Contact: Megan Ritter, mritter@infarmbureau.org or 317-692-7833
Now is the time to contact your congressman to encourage them to pass the farm bill during the lame duck session of Congress. Members of Congress need to hear from their constituents about the urgency in passing the farm bill.
We need at least three (3) members from each county Farm Bureau to call or email their member of Congress in support of moving a five-year farm bill. Contact your members of Congress now and urge them to support the farm bill. Find your congressman HERE.
Without your help, members of Congress could move toward an extension of the current bill. Farm Bureau is opposed to an extension. There are 37 expired programs in the current bill, including the Milk Income Loss Contract (MILC) and disaster programs that would not be automatically funded in an extension. If some of the expired programs are considered in the extension, cuts will need to happen in other areas to pay for their inclusion. Extension would also target the bill for sequestration. None of which is good for Indiana farmers. More information can be found HERE.
PENCE STAFF BEGINS TO TAKE SHAPE Over the past couple of weeks, Governor-elect Mike Pence has made some crucial appointments to the staff that will work with him when he assumes office in January. He announced this week that Bill Smith, who has served as chief of staff in his congressional office will assume the same role in the Governor’s office. Earlier, Pence had announced that Chris Atkins will serve as director of the state’s Office of Management & Budget and that Jeff Espich will serve as senior advisor for legislative affairs. Atkins has worked with OMB during the Daniels administration and served as policy advisor to the Pence campaign. Espich is a long-time legislator who chose not to seek re-election in 2012. He retired from the House as chairman of the budget-writing Ways & Means Committee.
Other key staff announcements over the past few weeks are: Heather Neal, legislative director; Chris Crabtree, deputy chief of staff for external operations; Marilee Springer, senior policy director; and Jennifer Pavlik, director of operations.
FARM BUREAU JOINS CALL FOR TAX ON INTERNET SALES Farm Bureau has lent its support to a coalition of retail interests calling on the state to advance the date that online retailers will have to begin collecting sales tax on internet sales. The retailers feel it is unfair that because they have been willing to invest in bricks and mortar in Indiana they have to charge their customers 7 percent more than their online competitors. Gov. Mitch Daniels has agreed with Amazon.com and other large on-line retailers that they should begin collecting sales tax on Jan. 1, 2014. The merchants group will seek legislation advancing that date to July 1, 2013. Reps. Tom Dermody (R-LaPorte) and Ed Delany (D-Indianapolis) plan to author the legislation. The prestigious Indiana Fiscal Policy Institute estimates that the state is losing as much as $125 million a year in lost sales tax revenues on internet sales. Farm Bureau policy supports collecting sales tax on internet sales as a matter of tax fairness, because of both the lost revenue and the importance of small businesses to the economic well-being of rural communities.
LONG AND BOSMA ANNOUNCE HOUSE COMMITTEE CHAIRS AND MEMBERS Senate President Pro Tem David Long (R-Fort Wayne) and House Speaker Brian Bosma (R-Indianapolis) have announced committee chairs and members for the upcoming session. A complete list of these appointments can be found on the General Assembly’s website at http://www.in.gov/legislative/index.htm under the “2013 Standing Committees” tab. Among the Senate committees that Farm Bureau works most frequently with are the following (C designates the committee’s chair; RM its ranking member; and RMM its ranking minority member):
FARM BUREAU PARTICIPATES IN COUNTY COMMISSIONER MEETING At the invitation of the organization’s leadership, Farm Bureau’s Katrina Hall presented a seminar on the budgetary and fiscal roles of county commissioners vs. those of the county council, the local government budget process, and an overview of the revenues available to county government. The seminar was presented to nearly 70 of the 84 newly elected county commissioners at the annual meeting of the County Commissioners Association in Indianapolis on Nov. 27. Farm Bureau had an exhibit in the meeting’s trade show. Both newly elected and veteran commissioners expressed their appreciation for Farm Bureau’s support and for the County Statistical Report which we prepare and distribute annually.
MARIJUANA SUDDENLY AN ISSUE IN INDIANA Almost overnight, the movement to decriminalize marijuana has gained a foothold in Indiana. The issue gained considerable public attention when State Police Superintendent Paul Whitesell told the State Budget Committee that he, personally, would support legalizing and taxing marijuana. The State Police PR experts were quick to point out that this was Superintendent Whitesell’s personal view, not the official position of the Indiana State Police.
Following Whitesell’s statement, Sen. Brent Steele (R-Bedford), chairman of the Senate Judiciary Committee, issued this statement: “As a practicing attorney, I’ve seen a significant amount of state dollars spent on prosecuting and incarcerating individuals caught with small amounts of marijuana. We have to ask ourselves if this is the best use of our criminal justice resources. It’s a matter of priorities, and I believe our focus should be on pursuing, prosecuting and incarcerating people who commit violent crimes, not simply people who make poor personal decisions.”
Governor-elect Mike Pence has indicated that he would not support an effort to decriminalize marijuana in Indiana.
BENNETT REPORTED TO BE INTERESTED IN FLORIDA JOB Tony Bennett, who was defeated in his effort to be re-elected Indiana’s Superintendent of Public Instruction by Democrat Glenda Ritz, has applied for a similar job in Florida. The Florida position is appointed by the state’s Board of Education. Bennett is one of about 50 people who have applied for the job.
BMV HAS A NEW APP The Indiana Bureau of Motor Vehicle announced this week that customers now can access BMV services through a new app available for Apple and Android mobile devices. The BMV app can be downloaded free of charge from the app store on a mobile device using "myBMV" as search words. The new app can be used for registration renewals and other BMV services.
YOUNG, STUTZMAN LAND SPOTS ON KEY COMMITTEES U.S. House of Representatives Speaker John Boehner (R-Ohio) this week appointed two Indiana congressmen to important committees. Rep. Todd Young of Indiana’s 9th Congressional District was appointed to the House Ways & Means Committee and Rep. Marlin Stutzman of the 3rd Congressional District attained a seat on the House Financial Services Committee.
CME ACQUIRES KANSAS CITY BOARD OF TRADE
Contact: Megan Ritter, mritter@infarmbureau.org or 317-692-7833
The CME Group announced this week that it had completed its acquisition of the Kansas City Board of Trade (KCBT). CME group is the world's largest and most diverse exchange and the leading trading mechanism for agricultural products.
KCBT’s primary contract for Hard Red Winter (HRW) wheat, along with the CBOT Soft Red Winter (SRW) wheat contract, is already traded on the CME group’s electronic trading platform and through open outcry in trading pits in Chicago. The CME group believes that having all major wheat contracts on one exchange will provide new trading opportunities and allow for the development of additional risk management products. CME group will maintain a committee made up of KCBT market participants to advise the exchange on HRW wheat contracts for a minimum of three years. The KCBT trading floor will continue to operate for at least six months. Eventually, all live floor trading will be physically located in the Chicago pits. All electronic trading will be done on the platform currently operated by CME.
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