President Donald Trump is back in Washington, where his 2017 tax cuts are one step closer to becoming permanent. The Senate Finance Committee has released details of its work on the “Big, Beautiful Bill.”
The Committee’s plan would extend the 45Z tax credit, and it would also keep the Section 199A at 20 percent and make it permanent. The Senate plan increases the estate tax exemption to $15 million or $30 million for a couple.
Their plan mirrors the House version when it comes to depreciation and would restore the full bonus depreciation.
Related Stories
Producers should coordinate immediately with their CPA and legal counsel to ensure their corporate structures and operational realities are perfectly aligned before the September deadline.
Farm legal expert Roger McEowen joins us to discuss the importance of a traditional Farm Bill and his concerns over shifting policy approaches.
In an exclusive interview with RFD News correspondent Frank McCaffrey, Congressman Henry Cuellar (D-TX) expresses frustration with delays and increasing political divisions surrounding the bill.
New farm payment rules allow LLC members to have separate limits, but some local FSA offices are still applying outdated policies, creating confusion for producers.
