Agricultural News
NCBA Waiting for Congress to Address Comprehensive Tax Reform and COOL
Mon, 11 May 2015 15:04:16 CDT
Presidential campaigning is ready underway for the 2016 election. That makes it difficult for Congress to focus on areas like tax reform and Country of Origin Labeling (COOL). National Cattlemen's Association Vice President of Government Affairs Colin Woodall is hoping something will get done with tax reform this year, but it won't be easy.
"It's going to be really hard to get comprehensive tax reform done this year, I'm afraid, but I think Congress is going to go a long ways in getting pretty close," Woodall said.
The House of Representatives has already passed legislation making the section 179 -expensing permanent, the Conservation Tax incentive permanent and last week the House passed legislation to repeal the death tax.
"All of that is great activity, activity that I think really helps build a case for comprehensive tax reform," Woodall said. "I don't think any one of them will get a standalone vote, or be signed as standalone pieces of legislation, but they all could be very well be in a bigger tax package."
Radio Oklahoma Network Farm Director Ron Hays featured Woodall on the Beef Buzz feature. Click or tap on the LISTEN BAR below to listen to today's Beef Buzz.
Congress continues to wait on the World Trade Organization (WTO) for their final ruling on whether COOL is trade distorting or not. Woodall said WTO decision is expected on or around May 18th.
"We expect that to be the fourth decision against the United States, so that leads us toward retaliation, but we are going to have that window between the first day of retaliation and this WTO decision for Congress to go and fix it," Woodall said. "We've run the course on this thing, we've tried it, it's been an experiment that has failed, it's just time to repeal it and repeal is the only way to ensure we will not have any future WTO cases on COOL."
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network- but is also a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show- and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
WebReadyTM Powered by WireReady® NSI
Top Agricultural News
More Headlines...
