A coalition of groups wants Congress to extend tax provisions that they say are crucial to continued economic recovery.
Dorothy Coleman is Vice President of Tax and Domestic Policy for the National Association of Manufacturers, one of the groups in the coalition. She calls her group a strong proponent of tax reform, but she says until that happens, the tax code should not be dismantled.
“Not extending these provisions amounts to a tax increase on companies and individuals and other groups that use these provisions,” said Coleman on Tuesday, “and tax increases are the last thing we need in an economy that’s not where it should be.”
The extensions should be acted on sooner rather than later, according to Mike Friemel, a farmer from Groom, Texas.
“We had to make some investments, some large investments, in equipment this year, so I need for [extensions] to be made retroactive back to 2014, because if I do not have that done, I will not be making any more investments into next year,” said Friemel, “and I know a lot of my neighbors and so forth have not made purchases.”
The coalition includes several agriculture groups, such as the American Farm Bureau Federation, the American Soybean Association and the National Cattlemen’s Beef Association, among others.
Source: www.brownfieldagnews.com