A bill to amend the Internal Revenue Code of 1954 to increase certain limitations on the deduction of expenditures by farmers for clearing land.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to change the maximum deduction allowed farmers for the expenses of clearing land from the lesser of $5,000 or 25 percent of the taxable income derived from farming to a flat $12,000. Limits the deduction to taxpayers who have been engaged in farming for two taxable years preceding the year in which the deduction is claimed.…