Farmers, Ranchers Need to Deliver Strong Tax Reform Message To Congress
Washington--Republican congressional leaders, just returning from their month-long August recess, are geared up to revamp and modernize the tax code, making it all the more urgent for farmers and ranchers to share their tax reform priorities with lawmakers.
“While September brings cooler temperatures for most of the country, including Washington, D.C., the heat is on Capitol Hill leaders to make good on the tax reform promises they made just before the start of recess and during their campaigns. For farmers and ranchers, it’s time to send those email messages, make those phone calls or meet with in-district and Capitol Hill staff to share your personal tax reform message,” said Cody Lyon, American Farm Bureau Federation director of advocacy and political affairs.
Among farmers’ and ranchers’ top priorities are comprehensive tax reform that helps all farm and ranch businesses; the reduction of combined income and self-employment tax rates to account for any deductions or credits lost; cost-recovery tools like allowing businesses to deduct expenses when incurred; and a continuation of cash accounting, Section 1031 “like-kind exchanges,” and the deduction for state and local taxes.
Share Your Tax Reform Message with Congress
Key lawmakers, along with President Donald Trump, are pushing to make headway on tax reform over the next several weeks, making this a key time for farmers and ranchers to share with their representatives and senators why reform is so important for people involved in agriculture.