Tag: budget

Photo by David Blankenship.

Ag reacts to Obama’s budget proposal with big crop insurance cuts

Last week, President Obama released his spending blueprint for fiscal 2017, a $4 trillion proposal congressional Republicans immediately declared dead on arrival. Agricultural leaders expressed a number of concerns as well. “A global glut of food production has sent U.S. farm revenues down sharply. With farm income down 56% in the past two years alone, [...]

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Gov. John Kasich signed the new state budget in late June including CAUV reforms.

Kasich signs $71.2 billion, two-year state budget

Ohio Gov. John Kasich recently signed a $71.2 billion two-year state budget that includes an income tax cut. A key part of the 2,876-page budget is a 6.3% state income-tax cut for 2015 as a part of a roughly $1.9 billion net tax reduction. That lowers the top income-tax rate to just below 5%. It [...]

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OFBF president Steve Hirsch at today's Ag Day at the Capital

OFBF Ag Day at the Capitol looks at state budget, other 2015 priorities

Ohio Farm Bureau Federation (OFBF) members once again convened in Columbus for the Ag Day at the Capitol where they learned about the key issues facing Ohio agriculture and met with state legislators to discuss them. “2014 was an interesting year to be a farmer — the farm bill passed, the property tax increased and [...]

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winter barn

Selling forward with a production budget in mind

Where will corn and bean prices go? Corn has a big technical resistance at $3.77 (100-day moving average). So far, the market has held this price as a floor. Some still estimate $4.25 as an upside target. Fundamentally, farmers haven’t been sellers much below $4, so with the board around $3.85 some end users can’t source corn without increasing basis. This could [...]

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wheat head

Crop budgets getting tighter in 2015

Though there may be some bright spots in the corn and soybean marketing months ahead, the outlook for profitability is clearly not as bright as it has been in recent years. “The message today is not as positive as it has been for the last several years,” said Barry Ward, OSU Extension, Leader, Production Business [...]

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Preliminary 2014 Ohio field crop enterprise budgets

Budgeting helps guide you through your decision making process as you attempt to commit resources to the most profitable enterprises on the farm. Crops or Livestock? Corn, Soybeans, Wheat, Hay? We can begin to answer these questions with well thought out budgets that include all revenue and costs. Without some form of budgeting and some [...]

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money

Tax pros and cons for agriculture in the state budget

While there were, without a doubt, many tax positives for agriculture in H.B. 59, the two-year state budget for 2014 into 2015 also includes some potentially not-so-positive tax changes for Ohio’s farm community. “This budget was so good to agriculture, but there are issues here that we have a little heartburn over,” said Brandon Kern, [...]

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Farm bill still a possibility despite shutdown

Based on a letter to House Speaker John Boehner and comments made during a news conference it appears Senate Majority Leader Harry Reid believes the farm bill could be included in a larger budget package. American Farm Bureau Federation Senior Director of Congressional Relations Mary Kay Thatcher was given hope by statements Reid made. She [...]

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Governor John R. Kasich signs the budget with some help from Felix Plouck. the son of Tracy Plouck, Director of the Ohio Department Mental Health and Addiction Services. Looking on are Senator Scott Oelslager, Senate President Keith Faber, Representative Ron Amstutz, Representative Jeff McClain, and Office of Budget Management Director Timothy S. Keen. Photo provided by the Office of Ohio Governor John R. Kasich.

State budget positive for agriculture

At a ceremony on the last day of June, Ohio Gov. John Kasich signed into law the FY2014-15 state budget. The budget includes $2.7 billion in tax cuts and $1.5 billion in new funds for education. “Ohio has come a long way in two years and it hasn’t happened by accident. Our work to eliminate an [...]

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