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Agricultural News


Reaction to 1099 Repeal

Tue, 05 Apr 2011 17:39:54 CDT

Reaction to 1099 Repeal Colin Woodall, Vice President of Government Affairs for the National Cattlemen’s Beef Association calls it an enormous victory for U.S. farmers, ranchers and small businesses. Woodall says placing burdens on entities that stimulate the economy is a step in the wrong direction. He adds it is equally encouraging to hear that President Obama supports repeal of this provision and says they encourage him to sign the bill immediately.

American Farm Bureau Federation President Bob Stallman says repealing the onerous Form 1099 requirement is great news for America’s farm and ranch families. This was a costly, burdensome and unnecessary tax compliance requirement that was counterproductive to job creation and economic growth. Stallman also says, - farmers, ranchers and small businesses are overloaded with paperwork, and we are pleased that our leaders in Washington took steps to provide relief.

   

 

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