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Roberts says tax bill under debate gives farmers certainty

The chairman of the Senate Agriculture Committee says the senate tax reform bill under debate will be good for farmers and ranchers. Senator Pat Roberts of Kansas, also a member of the Senate Finance committee, tells Brownfield there has been some progress made on the Section 199 deduction, “I’m not sure that will satisfy everybody, of course, but I think we’ve made, uh, substantial progress on that.”

The head of the National Council of Farmer Cooperatives, Chuck Connor, says the Senate bill’s 17-point-4 percent deduction for family farmers meant to replace Section 199 is NOT enough to help co-ops. The section 199 deduction has been eliminated in both the House and Senate tax reform bills.

Roberts insists the Senate measure provides farmers with certainty, “Certainty they will not be taxed out of business in a down year. They will have cash available to fund their operations. Certainly, that their hard-earned income or ranch will not have to be sold off just because somebody has died. And, certainty that the federal government recognize their irreplaceable role in meeting the challenges of a very dangerous and hungry world.”

The non-partisan Congressional Budget Office reports the Senate plan would add 1.4-Trillion-dollars to the deficit over the next decade and negatively impact Americans who make less than 100-thousand-dollars a year. The bill removes the Obamacare individual health insurance mandate. Lawmakers have the opportunity to offer amendments.