Deere Layoffs Impact Farmers - FOX 18 Quad Cities News and Weather

Deere Layoffs Impact Farmers

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The USDA expects farmers to see a 26% drop in income this year.
     
Lower crop prices plus high fuel and fertilizer costs will halt several seasons of income gains.
     
Farmers expect to be more cautious in their spending this year. For example, holding off on major equipment purchases like combines.
     
John Deere expects farm equipment sales to fall by five to ten percent. In response, it's cutting 120 workers from it's East Moline harvester works plant.
     
Edgington farmer Phil Fuhr says he'll hang onto his combine a little longer rather than trading it in.

"It's real easy to repair your old one or put some new parts in, and you can easily get another season through it," Fuhr said. "That's got to be on a lot of people's minds right now."

Farmers also blame the loss of a large business tax deduction that once covered the entire cost of a combine. That deduction was reduced from $500-thousand $25-thousand this year. 

 

 

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