ncba

NCBA Comments on Tax Reform

Dan Cattle, Economy, Industry News Release

Tax reform and trade are inserted daily in today’s agricultural conversations all around the United States. 2017 National Cattlemen’s Beef Association (NCBA) President Elect Kevin Kester says these issues are on the forefront of all in the cattle industry, too. Regarding tax reform, Kester says they support a full elimination of the death tax. Tax Kester says there is also …

tax reform

Long Awaited Tax Reform Nearing Reality

Dan Economy, Industry News Release

Comprehensive tax reform, supported by the American Farm Bureau Federation, could soon cross the finish line. The House and Senate have both passed their own versions of tax reform bills.  According to AFBF senior congressional relations director Pat Wolff, the biggest difference for agriculture is how pass-through business income will be treated, income reported by farmers and ranchers who file …

senate tax

Senate Tax Bill Doesn’t Include Section 199 Deductions

Dan Economy, Industry News Release

The Senate tax bill passed over the weekend does not include a deduction that farm cooperatives lobbied to keep in the tax reform package. The National Council of Farmer Cooperatives (NCFC) says the Domestic Production Activities Deduction, also known as the Section 199 deduction, means farmers may end up paying more taxes. Chuck Conner, NCFC CEO, previously said that Section …

perdue

Perdue on President’s “Bring Back Main Street” Message

Dan Economy, Industry News Release

U.S. Secretary of Agriculture Sonny Perdue echoed President Donald J. Trump’s message that tax cuts and reforms are needed to increase American prosperity. The president delivered remarks with a “Bring Back Main Street” theme in St. Charles, Missouri, highlighting the need for tax relief to boost the economy, particularly in the heartland. Perdue issued the following statement: “The people of …

farm bill

Tax Reform, Crop Yields, Commodity Prices

Dan Economy, Farm Bill, Industry News Release

There’s lots of talk about tax reform, crop yields, and commodity prices these days, but little about a 2018 farm bill. And it now appears formal writing of a new farm bill may have to wait ‘til next year. Earlier in the year, there was lots of talk about a new farm bill. That was August. Two months later, Democrat Debbie …

farmers

Tax Reform Proposals Jeopardize Essential Farm Program Funding

Dan Industry News Release

Lawmakers in Congress are considering major changes to the nation’s tax system after a pair of tax reform bills were introduced in both the U.S. Senate and the U.S. House of Representatives. While the jury is still out on how the plans would impact farmers’ and ranchers’ effective tax rates, new analysis shows that the plans, if passed into law, …

tax reform

Agriculture Reacts to House Tax Reform Proposal

Dan Economy, Industry News Release

The House Ways and Means Committee tax overhaul plan released Thursday provides a blueprint for tax reform. The plan is essentially a set of promotional documents, with many details unaccounted for. The documents say the estate tax would be repealed, and that the legislation will lower individual and corporate tax rates. Agriculture groups are reviewing the first draft of the …