Aug 10, 2021
Washington, D.C. Aug. 10, 2021. Soybean farmers are pleased the United States Senate, after months of across-the-aisle negotiations, voted to pass the bipartisan infrastructure package (H.R. 3684) by a vote of 69-30.
Kevin Scott, American Soybean Association (ASA) president and soybean farmer from Valley Springs, South Dakota, said, “ASA and its farmer leaders are very supportive of this bipartisan legislation, which makes historic investments across all aspects of our nation’s infrastructure, including roads and bridges, waterways and railroads. Throughout this Congress, ASA has engaged with lawmakers to express how important these investments in critical infrastructure are to farmers. We also appreciate our leaders in Washington addressing the truck driver shortage, expanding broadband connectivity across farm country, and incorporating a pilot project that highlights the benefits of biobased construction materials containing soy.”
The final infrastructure package did not make any changes to stepped up basis on capital gains taxes or 1031 exchange provisions, which would negatively affect farm families. ASA looks forward to this package moving through the House and will continue to oppose harmful funding mechanisms that would have an adverse impact on soy growers and their families.