Our Ever-Changing Industry Requires Monitoring, Planning, and Quick Reaction

I have been reminded several times recently how little control we have over issues that affect us in this industry, in our members’ businesses, and in our personal lives. The best we can do is stay informed, plan for multiple scenarios, and react quickly to changes.

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In Canada, for example, the political landscape changed dramatically this week when voters elected Justin Trudeau and a clear majority from the Liberal Party of Canada. While Canadians as a whole chose a liberal government, much of rural Canada—the agricultural regions of the country, in particular—chose to send Conservative MPs back to Ottawa. An acquaintance tells me that if the election had been held a week earlier, it is unlikely that the Liberal Party of Canada would have won such a clear majority.

Regardless, after nearly a decade of conservative government and balanced budgets, Canadian farm groups, farmers, and those who sell equipment will have to adjust to liberal policies and approaches and react to the coming changes.

That kind of rapid change in the political landscape is far from confined to our neighbors in Canada. In the U.S., we were surprised recently by the resignation of John Boehner as Speaker of the House. We were surprised again when his likely successor, Kevin McCarthy, withdrew from consideration. We learned just Wednesday morning that an election for Speaker of the House is scheduled for October 28, while we’re together at Fall Convention.

While these may not seem like front-burner issues in our day-to-day work, both will in some ways influence how things get done in agriculture and manufacturing.

In coming weeks, for example, the EPA is expected to issue its final rule on the Renewable Fuel Standard, which governs how much ethanol goes into our gasoline.

While it’s clear the decision will be directed by the White House, the response by Congress will largely be directed by the new Speaker of the House.

Bonus depreciation and renewal of the Section 179 tax provision at prior-year levels are both subjects important to our industry. Our Association has in the past supported both of these tax provisions, and during our Fall Convention, I will ask our Board of Directors to again renew the Association’s support of these important tax provisions and to call on the new Speaker to work for a longer-term tax policy that our members and their customers can build into business plans.

While we will continue to monitor these major changes and attempt to make our members’ views known to whatever leadership emerges, most importantly, we will continue to listen to you—the more than 730 companies who comprise our membership base and make powerful things happen in our industry.

Baseball? Yes, we continue to watch the ever-changing status of the Kansas City Royals and what could be a World Series starting in KC the same day as our meeting.

If you are one of the more than 400 members registered for our Fall Convention, we encourage you to be sure you have your room confirmation and suggest making reservations early for restaurants.

Kansas City may well be a very busy town. S