Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211


Agricultural News

Farmer Cooperatives Council CEO Says House Tax Proposal Will Raise Taxes on American Farmers

Thu, 02 Nov 2017 12:14:20 CDT

Farmer Cooperatives Council CEO Says House Tax Proposal Will Raise Taxes on American Farmers The following statement was issued by Chuck Conner, president & CEO of the National Council of Farmer Cooperatives, in reference to the House Tax Reform Package.

“By eliminating the Domestic Production Activities Deduction (DPAD), also known as Section 199, the 'Tax Cuts and Jobst Act of 2017,' the tax reform proposal released today by House Ways & Means Chairman Kevin Brady, would raise taxes on millions of farmers and depress economic activity throughout rural America. The value of the deduction for agriculture in a number of states is substantial: $136 million annually in California; $131 million in Minnesota; $80 million in South Dakota; $67 million in Iowa; and $60 million in Nebraska.

“Initial calculations using assumptions based on the Unified Framework on tax reform show that the tax burden for an individual farmer could increase by thousands of dollars each year under Section 199 repeal. In the coming days NCFC will continue to analyze the impact of farmers now that more details of the plan have been provided.

“Farmers have been told that tax reform will give them more money in their pockets to invest back in rural communities. The House tax reform package takes money away from farmers at a time when they are suffering from extremely low commodity prices. Rural America strongly supports a pro-growth tax policy, but the proposal to eliminate Section 199 will have the exact opposite effect.”

Source - The National Council of Farmer Cooperatives



WebReadyTM Powered by WireReady® NSI


Top Agricultural News

  • Ag Groups- Including the NCBA- Are Cheering the Omnibus Spending Bill as the Vehicle to Fix Several Major Ag Problems  Wed, 21 Mar 2018 23:23:38 CDT
  • Feeder Steers and Heifer Sell 4.00 to 8.00 Lower Wednesday at OKC West Livestock Auction  Wed, 21 Mar 2018 16:08:46 CDT
  • NCFC President Chuck Conner Commends Congress for Section 199 Provisions in Omnibus Package  Wed, 21 Mar 2018 15:06:42 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Wednesday, March 21, 2018  Wed, 21 Mar 2018 14:46:57 CDT
  • Republican State Senator AJ Griffin Announces Intentions Not to Seek Re-election During Next Race  Wed, 21 Mar 2018 14:30:36 CDT
  • Wednesday Market Wrap-Up with Justin Lewis  Wed, 21 Mar 2018 14:23:35 CDT
  • Wednesday Afternoon Market Wrap-Up with Carson Horn   Wed, 21 Mar 2018 14:13:46 CDT
  • Bayer and National 4-H Council Partner to Boost Students' Education and Interest in Agri-Science  Wed, 21 Mar 2018 11:43:03 CDT

  • More Headlines...


    Ron salutes our daily email sponsors!

    Livestock Exchange Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Stillwater Milling American Farmers & Ranchers KIS FUTURES, INC. Oklahoma Cattlemen's Association Oklahoma City Farm Show

    Search OklahomaFarmReport.com

    Find more about Weather in Oklahoma City, OK

    © 2008-2018 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.