The new tax cut package increased the popular section 179 expensing provision from $25,000 to $100,000 in 2003. To see a brief update on the farm specific parts of the new tax law check out this article http://agebb.missouri.edu/agtax/issues/tidbits/7-03.pdf on Parman Green's Ag Tax Tidbits website:
http://agebb.missouri.edu/agtax/index.htm