As Finance chairman, Grassley wants ‘more middle-income tax cuts’
When he used the power of seniority to claim chairmanship of the Senate Finance Committee in the new session of Congress, Iowa’s Chuck Grassley said he wanted greater tax fairness for Americans. Many farm groups share his goal of additional tax relief.
Tax boon for co-op customers must change, says Grassley
The first major agricultural flaw found in the new tax law has “got to be changed,” said Iowa Sen. Chuck Grassley. Grain companies are very concerned that Section 199A of the new law “would put them out of business if we don’t do something,” he said.
Grain companies say tax law gives edge to cooperatives
Privately owned grain companies, from the giants of the grain trade to local merchandisers, “fear their grain supply will dry up” because of a provision in the newly enacted tax law, said Reuters.
Trump says tax bill mostly ‘wiped out’ the estate tax
During a half-hour “bill passage event” that resembled a pep rally for the Republican-written and -passed tax bill, President Trump said farmers and small-business owners will benefit because “for the most part, [the] estate tax is wiped out.”
Tax bill’s benefits for agriculture will be mostly temporary
The tax bill written by the Republican-controlled Congress would deliver “near-term benefits to many ag producers, but rate reductions and estate tax changes beneficial to ag are temporary” and bring the risk of higher taxes in the future, says the accounting firm K-Coe Isom.