Tax reform benefits farmers
Congress passed a tax reform package that would benefit my family farming operation, along with family farms across the state. Tax reform will provide much needed relief in these times of depressed commodity prices and will increase my ability to make investments for the future by expanding small business expensing, continuing my ability to deduct interest expense, and lowering tax rates. The tax reform bill will also provide much needed relief from the death tax that threatens family farms. Rather than reinvesting in the farm, hundreds of families across the state instead bare the cost of hiring accountants, lawyers, and financial planners who must go to great lengths to help families plan around this unfair double taxation. Congress is on the brink of allowing small businesses to reinvest more of what they earn, which will in turn stimulate the broader economy.