Agricultural News
Sen. Jim Inhofe Says Economic Prosperity and Common Sense is Returning to America Under Trump
Tue, 05 Dec 2017 15:46:41 CST
On Tuesday, Radio Oklahoma Ag Network Farm Director Ron Hays had the chance to speak with Oklahoma's Senior Senator Jim Inhofe from Washington, DC about a variety of issues facing our rural communities that are currently being discussed in our nation's capital. You can listen to Hays' full conversation with Sen. Inhofe as he offers a complete legislative update on important rural policy matters, by clicking or tapping the LISTEN BAR below at the bottom of the page.
Diving into probably the hottest topic in DC right now, Hays inquired about the current status of the progress being made on tax reform, an issue held in high priority by President Trump since he took office. Sen. Inhofe drawing from his past experiences during the Reagan years, explained that President Trump's direction to cut taxes is significant. Inhofe explained that the two times he witnessed Reagan do the same, cutting taxes from 70 percent down eventually to 28 percent, caused revenue to flood into our nation's coffers. However, Inhofe insisted that the money that accrued as a result of the Reagan cuts were squandered by Democrats that controlled Congress at the time. The Senator hopes the outcome is different this time, but assures that revenue will increase as a result of the tax cuts currently being negotiated between the House and Senate as they go into conference to reconcile the two versions of the bill that have passed separately in each legislative body.
"It's a huge deal and everyone listening to us right now, should be very excited, because we've passed the bills out of the House and Senate. The conference is working now and I think we can do it by the end of the week," Inhofe said confidently. "As soon as these reductions go into effect, you're going to see revenue really jump-start in America."
The Senator pointed out, too, that the phase out of the controversial death tax, was also included in this tax reform package. While the Senate version of the bill includes a sunset clause on the restrictions against this tax, the House version offers a path to the tax's permanent repeal. Both, though, double the death tax exemption which if nothing else is a step in the right direction. Inhofe says he hopes those in conference will vote to adopt the House's language to once and for all rid farmers and ranchers of the death tax burden. But in the event that doesn't happen, he says there will be plenty of time to continue working on an eventual repeal.
In regards to other regulatory issues that have impacted rural Americans, Sen. Inhofe says there may not be any other more important than the review process under which the Environmental Protection Agency's Waters of the US rule has been subjected to, by order of the President. He says former Oklahoma Attorney General and now EPA Administrator Scott Pruitt is well on his way to resetting the harmful and confusing nature of the regulation as it currently exists.
Inhofe noted that since President Trump took office, he has issued over 50 executive orders and approved 15 Congressional Review Acts (CRAs) that will negate many of the laws and regulations implemented under the Obama regime.
"The one that is most important to farmers and ranchers, is the WOTUS thing," said the Senator, who chaired the Environment & Public Works Committee during Obama's term. "That's one of the first ones that he jumped into and he's going to get it done as fast as he can and we're directing the EPA to rescind it. So- that's going to happen."
You can listen to Senator Inhofe speak more about these topics and others with Ron Hays, in the recording of their phone call. Click or tap the LISTEN BAR below to hear that full conversation.
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