Farm Bill Extension
OK it is only a 9 month extension of some of the previous farm bill.
Other big issues in fiscal cliff deal.
1. Inheritance tax $5 million exemption per person with a 40% (used to be 35%) tax rate above that.
2. Capital gains over the $450,000/$400,000 threshold 20% rate.
I also look at and examine what I know about the details of the farm bill extension.
The political implications of this deal are probably bigger than the deal themselves.
What now happens in 2 months???? Debt limit is reached and automatic spending cuts will kick in. It is going to be interesting.