Many producers could see meaningful tax cuts next year, but the sweeping tax bill that Congress gave final approval to Wednesday will leave them without the certainty on expensing and estate planning that farm groups were seeking.
Congressional Republications finalized a sweeping tax reform package that could cut tax rates for farmers and other small businesses while expanding the Section 179 expensing allowance and doubling the estate tax exemption.
WASHINGTON, Oct. 29, 2017 - House Republicans reveal the details of their tax reform plan this week as GOP leaders mount an ambitious pre-Thanksgiving campaign to get tax bills through both chambers before the holiday.
WASHINGTON, Oct. 25, 2017 - Congressional Republicans are preparing to roll out a package of tax cuts with hopes of pushing the bill through at least the House by Thanksgiving. There is no higher priority this Congress for the GOP. Republicans see passing tax cuts as vital to their chances of maintaining control of Congress in 2018.
WASHINGTON, Oct. 20, 2017 - The House is poised to give quick approval to a Senate-passed budget resolution that will clear the way for a tax-cut bill without requiring any reduction in farm bill spending.
WASHINGTON, Sept. 24, 2017 - Congressional Republicans will join the White House in rolling out a set of tax reform proposals this week that could have implications for farmers, depending on the mix of tax rates and deductions.