KBHB BIG 81
LISTEN LIVE
Gary Matthews-News 12:00pm - 12:20pm
KBHB ON DEMAND
facebook


KBHB AG News

KBHB AG News

Deal reached to fix unintended tax break for certain farmers


The Associated Press - March 15, 2018

MINNEAPOLIS - Congressional committees and farm groups have crafted language to fix a provision in the federal tax overhaul that gave an unintended tax advantage to farmers who sell their crops to cooperatives instead of other buyers.

Both sides are now trying to get it included in a massive spending bill that needs to pass by March 23 to avert another federal government shutdown.

The deal announced Tuesday is meant to keep the playing field level between co-ops and other crop buyers, ranging from local companies to agribusiness giants such as Cargill and ADM.

The complex language is the product of weeks of negotiations among committee leaders and staffers with farm groups, including the National Grain and Feed Association and the National Council of Farm Cooperatives.

The U.S. Department of Agriculture endorses the agreement, but the National Farmers Union opposes it.



kbhbradio.com
Phone number: 605-347-4455
E-mail: [email protected]
Address: 1612 Junction Avenue, Suite #1
Sturgis, SD 57785
  BIG 81 ON FACEBOOK
  WEATHER
  MARKET NEWS
.