tax reform

A provision in the overhaul of the U.S. tax code had some unintended negative side effects on certain agribusinesses across the country.  The provision gives producers a chance to cut down on their taxable income if they sell their commodities to agricultural cooperatives.  It appe...

The leader of the U.S. Chamber of Commerce said the wrong move on trade policy poses serious risk to economic growth.  In the annual “State of American Business” address, Chamber President and CEO Tom Donohue says that if the U.S. is not leading on ...

During his recent address to the American Farm Bureau Federation convention, President Trump promoted the GOP’s recently passed tax reform bill.  Trump said many of working class Americans have already seen a benefit from the reform, as many companies and corporations have paid employees bonuses.  While th...

The National Farmers Union says 2017 was a busy year on the Ag front, and they expect much of the same in 2018.  NFU President Roger Johnson called 2017 a tough year in Ag policy thanks to the chaos in Washington, D.C.  He said that made policy victories hard to come by.   “...

Now that the tax reform package will officially become law in 2018, there is a lot of discussion of what that could mean for different industries in the U.S.   USDA Chief Economist Rob Johannson said it’s too early to tell, but there is some positives to take away from changes to the estate tax.   “...

Tax reform signed in to law last week, you’ve heard a lot of numbers and figures.  But how will it benefit the farming community?   Central Washington representative Dan Newhouse told the Washington Ag Network there will be many benefits to the ag industry, and many of those benefits will be noticed right away.   “Certa...

Agriculture Secretary Sonny Perdue calls the recently passed tax reform bill a “once-in-a-generation” reform of the federal tax code.  Calling tax reform an eagerly awaited Christmas present for taxpayers, Perdue said “tax paying people of American agriculture need relief.”   In his statement,...

The National Council of Farmer Cooperatives praised lawmakers for their work in providing a fix for the repeal of the section 199 Deduction.  NCFC applauded Senator John Hoeven of North Dakota and Senator John Thune of South Dakota for their work in adding the language to the tax bill, along with Senate Agriculture Committee Chairman Pat Roberts.  Previou...

While nothing has been passed and moved to President Trump for his signature, many across the agriculture community have questions how proposed tax reform could impact their operation, or their personal taxes.  Lonnie Coppock with Clifton Larson Allen in Omak says several specific topics remain in the air.  Sh...

Many in the agriculture community have come out in support of a majority of the current tax reform proposals being discussed in DC.  But, one omission that has many concerned, the absence of the 199 Exemption.  Representative Dan Newhouse told the Washington Ag Network he’s spoken with the Chairman of the Ways and Means Committee, as well as other members on the Conference Committee.   “They ... R