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Proposed B & O tax increase will reduce farm incomes

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 farm income that is borne entirely by farm families and their employees.

5. Farmers cannot demand an increase of commod...

 

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