Imagine a Missouri where family farms vanish, swallowed by corporate giants while land prices soar beyond reach. That’s the future Representative Tim Taylor is ushering in with his YES vote on HB 594 and HB 508, bills that grant a 100% capital gains tax deduction on farmland and business assets. This has sparked outrage among Missouri farmers, especially independent farmers who see these measures as a windfall for corporate farms at their expense. Passed by the Missouri House in February 2025 and now pending in the Senate, HB 594 and HB 508 let anyone selling farmland, equipment, or qualifying assets dodge capital gains tax entirely. Supporters, including some of Taylor’s allies, argue this spurs investment and boosts Missouri’s economy. But dig deeper, and the truth emerges: it’s a tax break for corporate farms and Wall Street investors, not the rural Missourians tilling the soil. The policy fuels massive land buyouts, as corporate farms sell vast tracts tax-free, driving up land prices and pricing out small farmers. Young and independent farmers hoping to buy land in rural Missouri now face costs that climb by thousands per acre, with investors exploiting the tax break to snap up farmland. Corporate farmland monopolies tighten ...
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