The biggest anticipated changes that could impact farmers under a second Trump administration are the possible changes to tax policy, including renewal of the 2017 tax cuts, a Section 2032A bump, a Section 199A extension and the return of 100% bonus depreciation.
Prior to the election, market buzz revolved around soybean prices tanking if Donald Trump won. Soybean prices did indeed drop in a knee-jerk reaction Tuesday night, but later in the week prices rallied higher.
The good news is a Trump presidency and Republican-controlled Senate might result in fewer regulations and lower taxes. The bad news is the U.S. could be headed for a possible trade war with China and other countries.
Now that election results are in, the parlor game of who President-elect Donald Trump will tap to serve on his Cabinet has returned. Jim Wiesemeyer weighs in on the host of possibilities.
