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

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.