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  • Proposed B & O tax increase will reduce farm incomes

    Pam Lewison|Updated Jan 14, 2021

    Key findings include: 1. Farmers and ranchers have been negatively affected by the lockdowns, despite being deemed essential services. Median farm households in Washington lost $821 in 2019. 2. Washington farms generate $10.2 billion for our economy. 3. To earn a 20 percent profit margin, farms must earn more than $5 million annually. Only 324 farms in Washington did that in 2017. 4. When lawmakers increase taxes on farmers and ranchers, the immediate effect is a reduction in...