Agricultural News
Oklahoma Cattlemen Cheer House Passage of One Year tax Extender Deal
Thu, 04 Dec 2014 02:46:47 CST
The Oklahoma Cattlemen's Association is pleased with the passage of the so called "Tax Extenders" package by the US House of Representatives on Wednesday. OCA Executive Vice President Michael Kelsey released the following statement to the Oklahoma Farm Report on Wednesday afternoon:
The Oklahoma Cattlemen's Association is very appreciative of the US House of Representatives vote today that addresses a looming problem for Oklahoma farmers and ranchers. In a compromise deal, the House overwhelming approved a proposal that expands the expired Section 179 tax deduction from $25,000 to $500,000 for one year. The bill also addresses allowed depreciation which is important for equipment purchases like tractors and trailers.
"We are very grateful that the House took this important action today. This issue has been federal priority one for OCA since November 14th," said Michael Kelsey, OCA Executive Vice President. "We are hopeful that the Senate will take up this issue soon providing Oklahoma farmers and ranchers some time before year's end to make important business decisions."
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