The conversation discusses the potential impact of the 2017 Tax Cuts and Jobs Act on the agricultural industry. Specifically, it addresses the estate tax provisions that are set to revert to pre-2017 levels unless Congress acts to extend them. If this provision is not renewed, it will revert to $5.5 million in 2026, which could negatively affect farmers and ranchers, particularly given the current economic struggles in the U.S. ag sector.
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