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Agricultural News


American Farm Bureau Pleased with House Passage of Tax Extenders- Still Looking for Long Term Solution

Thu, 04 Dec 2014 02:52:40 CST

American Farm Bureau Pleased with House Passage of Tax Extenders- Still Looking for Long Term Solution The President of the American Farm Bureau, Bob Stallman, offered the following statement after the US House of Representatives passed H.R. 5771, the Tax Increase Prevention Act of 2014

"Farmers and ranchers rely on tax provisions that give them the flexibility they need to invest in their businesses and boost their local economies. Farm Bureau is pleased the House has acted to extend several key tax provisions this year. We urge Congress to bring a tax extender package to completion before the year's end.

"Small business provisions like Section 179 and bonus depreciation increase cash flow, and that lets farmers and ranchers put their money back to work immediately so they can care for their land and animals.

"Provisions that encourage the production and use of clean, renewable energy are especially important. Farmers and ranchers depend on affordable energy and recognize the importance of fuel and power tax incentives to boost its production and promote innovation.

"We are glad to have these temporary extensions, but we know these issues will come up again. We still need a long-term solution so small businesses can have the certainty they need to plan for the future."


   

 

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