Oct 9, 2026 · 23 min · 20 segments
ARC and PLC will pay out a record amount to producers this year under last year’s Working Families Tax Cut Act. RFD Radio Network's Washington correspondent Matt Kaye reports. Jamie Sample…
DeLoss JahnkeHostRita FrazerHostGraham UtterGuestPaul OttoJim TaylorHostJamie SampleGuestMatt KayeBrenna HildenbrandGuest
Steve BridgeARC and PLC will be paying out record amounts, uh, to producers this year under last year's Working Families Tax Cut Act.
The Working Families Tax Cut Act increased spending for these programs by $14 billion.
Referring to ARC and PLC, which Iowa Senator Chuck Grassley says now have updated revenue floors and reference prices.
That's 4.10 for corn, $10 for soybeans.
Soybeans is way above that.
Uh, corn is still above 4.10, but n- not entirely profitable.
The tax cut bill also increased payment limits, made crop insurance more affordable, and disaster aid more accessible, and added 30 million base acres.
Separately, Grassley says his farmers and others will get added tax breaks.
Iowans can now defer capital gains taxes on the sale of farmland into annual installments, spreading the, uh, cost over a few years instead of one large tax bill.
And there's permanent extension of bonus depreciation and another 20% business income tax deduction.
The Working Families Tax Cut Act, uh, permanently doubles the, uh, death tax exemption, making it easier to pass the family farm down from one generation to the next.
Grassley and other Republicans argued without it, Americans would have faced the largest tax hike ever.
The GOP is citing the bill's benefits again as Republicans face competitive races in several red farm states.
ARC and PLC will be paying out record amounts, uh, to producers this year under last year's Working Families Tax Cut Act.
The Working Families Tax Cut Act increased spending for these programs by $14 billion.
Referring to ARC and PLC, which Iowa Senator Chuck Grassley says now have updated revenue floors and reference prices.
That's 4.10 for corn, $10 for soybeans.
Soybeans is way above that.
Uh, corn is still above 4.10, but n- not entirely profitable.
The tax cut bill also increased payment limits, made crop insurance more affordable, and disaster aid more accessible, and added 30 million base acres.
Separately, Grassley says his farmers and others will get added tax breaks.
Iowans can now defer capital gains taxes on the sale of farmland into annual installments, spreading the, uh, cost over a few years instead of one large tax bill.
And there's permanent extension of bonus depreciation and another 20% business income tax deduction.
The Working Families Tax Cut Act, uh, permanently doubles the, uh, death tax exemption, making it easier to pass the family farm down from one generation to the next.
Grassley and other Republicans argued without it, Americans would have faced the largest tax hike ever.
The GOP is citing the bill's benefits again as Republicans face competitive races in several red farm states.
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