The Administration proposal to impose higher taxes on corporations and investors would deprive farmers of a tax concession on capital gains when selling land. Currently, if farmers sell productive land and apply the proceeds 
towards the purchase of other real estate, they are exempt from capital gains. Farmers maintain that the removal of the tax break would hamper flexibility in diversifying crops and would obstruct consolidation necessary to achieve efficiency. In a May 6th article in The Wall Street Journal, Will Parker notes that farmers own approximately 40 percent of land area in the Continental U.S.