More tax certainty for farmers could be on the way.
The House Ways and Means Committee recently marked up a bill that would make bonus depreciation permanent.
National Farmers Union Vice President Chandler Goule says Congress has been taking a band-aid approach to tax extenders and it’s time for a long-term plan.
“These six-month and one-year extenders is not enough. We really need to take a comprehensive look, give some certainty and do a long-term plan for tax extenders for rural America.”
This summer the Senate Finance Committee approved tax extenders legislation, but the full Senate has yet to act.
Source: www.brownfieldagnews.com