Tax Empowerment and Relief for Farmers and Fishermen (TERFF) Act

Tax Empowerment and Relief for Farmers and Fishermen (TERFF) Act - Amends the Internal Revenue Code (IRC) to allow to an eligible commercial farmer or commercial fisherman a deduction, of up to 20 percent of such commercial farmer's or fisherman's taxable income which is attributable to an eligible commercial farming or fishing business, for the amount paid in cash by such commercial farmer or...