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Created in 1916, the federal estate tax is a tax on the transfer of property from a deceased person to their heirs at death. Legislation enacted over the last several years has greatly reduced the federal estate tax by increasing the exemption amount from $675,000 in 2000 to $11.58 million in 2020.
Tariff-rate quotas (TRQs) are a two-tiered tariff available to member countries of the World Trade Organization (WTO), including the U.S. They function by allowing a specified quantity of goods into a market at a low, in-quota rate.
The 2019 Survey of Irrigation Organizations (SIO), jointly conducted by USDA’s Economic Research Service (ERS) and National Agricultural Statistics Service, collected information about different types of organizations involved in the local management of water supplies for irrigated farms and ranches.
In 2020, USDA’s Economic Research Service (ERS) expects the inflation-adjusted median household income for the principal operators of commercial and intermediate U.S. farms to increase by an estimated 29.6 percent and 4.9 percent, respectively.
There was increased attention to the meatpacking industry recently as high rates of outbreaks of the coronavirus (COVID-19) caused some meatpacking plants to shut down temporarily.
Researchers at USDA’s Economic Research Service recently evaluated the potential impacts of the European Commission’s Farm-to-Fork and Biodiversity Strategies initiative that calls for restrictions in the use of agricultural inputs such as land, antimicrobials, fertilizers, and pesticides in EU agricultural production.
The Progressive Beef program, originally designed in 2000, has now hit a new milestone.