Case Study: Protecting an $18 Million Tax Benefit for Iowa Cattle Producers

Result: During the 2024 Iowa legislative session, HYS lobbied to save Iowa cattle producers $18 million in taxes, and won.

The challenge

Without legislative action, Iowa livestock producers faced a new state tax on capital gains from the sale of breeding livestock such as bulls, boars and rams. For working farm families, the change would have meant a higher tax bill on a normal part of running a livestock operation.

The approach

HYS lobbied on behalf of Iowa cattle producers at the Iowa Capitol during the 2024 session. Iowa Cattleman had introduced HYS founder Jake Swanson to its members as “Our Voice Inside the Iowa Capitol,” noting his background in state government and his personal connection to agriculture and the beef business.

The outcome

The Legislature passed House File 2649, which reinstated Iowa’s livestock capital gains deduction for Iowans who earn at least half of their annual income from farming. When the bill was signed in May 2024, Governor Kim Reynolds said farm families would save nearly $18 million by 2030.

Why it matters

Tax policy can change quickly at the Capitol, and agricultural producers need a voice that understands both farming and state government. Learn more about our agriculture government affairs work, or email info@hystrategies.com.

Sources: Iowa Cattlemen’s Association, April 24, 2024; Radio Iowa, May 15, 2024.