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Agricultural News

NCFC President Chuck Conner Says Tax Reform's Passage will Deliver Needed Relief to Producers

Wed, 20 Dec 2017 14:47:21 CST

NCFC President Chuck Conner Says Tax Reform's Passage will Deliver Needed Relief to Producers National Council of Farmer Cooperatives President Chuck Conner offered the following statement on the passage of Tax Reform Conference Report, Wednesday.

"The tax reform legislation passed by Congress today recognizes the key role that farmer co-ops and their members play in spurring economic growth across rural America. At a time of continued low commodity prices, the legislation will deliver much needed tax relief to producers; it will help ensure that co-ops continue to invest in their businesses in ways that create jobs and bolsters local communities.

"I would also like to recognize the leadership of two senators who made sure that this legislation would work for agriculture-Senator John Thune of South Dakota and Senator John Hoeven of North Dakota. They crafted provisions in the bill that ensured that the elimination of the Section 199 deduction would not result in a tax increase for co-ops or their farmer-members. They both showed themselves to be true champions of the family farmer throughout this process.

"With the tax reform package now through Congress, we look forward to President Trump signing the legislation into law at the earliest opportunity."

Source - National Council of Farmer Cooperatives



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