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Ag Needs Tax Reform

Ag Needs Tax Reform

10/9/2017 9:42:00 AM/Categories: Popular Posts, Today's Top 5, People in Ag, Livestock, Grains, National News, Ag Issues

It’s been over 30 years since the last Tax Reform Bill was signed into law by president Reagan. Since then, the tax code has impacted family farms and ranches and even made passing on the family business very expensive or an impossible task. As president Trump works to pass the first tax reform bill in 30 years agriculture is  make sure its voice is heard. 

The National Cattlemen’s Beef Association last month kicked off a media and advertising campaign that will shine a spotlight on how various federal tax provisions impact America’s cattle and beef producers. The campaign, which will focus heavily on the death tax, aims to build support in Washington for comprehensive tax reform that makes our tax code fair for agricultural producers. The campaign will be centered around a new website, CattlemenForTaxReform.com.
 

“We have a once-in-a-generation opportunity to enact truly comprehensive tax reform, and we can’t afford to let this opportunity pass or to get it wrong,” said NCBA President and Nebraska cattleman Craig Uden. “Family ranchers and farmers deserve a full and permanent repeal of the onerous death tax, which charges them in cash on the often-inflated appraised value of their property and equipment. This campaign will shine a spotlight on the stories of real ranchers who have had to deal with this issue, and it will also highlight current tax provisions that we need to maintain, such as stepped-up basis, cash accounting, and deducibility of interest payments.”

Northern Ag Network & NCBA

 
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