WASHINGTON — Editor’s note: The following statements have been released in response to the recent House passage of the Tax Cuts and Jobs Act (H.R.1).
Secretary Perdue Statement on House Passage of Tax Cuts & Reforms
U.S. Secretary of Agriculture Sonny Perdue hailed the House of Representatives’ passage of historic tax cuts and reforms as an important step toward providing much-needed relief to Americans, creating jobs, and boosting the economy. Perdue issued the following statement:
“We haven’t had an overhaul of the burdensome federal tax code since the mid-1980s and it is well past time to provide needed relief to workers and families. The people of agriculture dedicate their lives to putting food on the table for their fellow citizens and they deserve to keep more of what they earn from their labors. I applaud President Trump for his leadership in driving the debate and clearing a path for historic and significant tax cuts and reforms, just as I am pleased to see the sense of urgency with which Congress is moving toward a solution. The result will be more money in people’s pockets, more jobs created, and a more vibrant American economy.”
NFU Alarmed by House Passage of Tax Reform Bill
The U.S. House of Representatives voted 227-205 to approve the Tax Cuts and Jobs Act, a bill that would provide tax cuts and breaks to corporations and wealthy Americans at an estimated cost of $1.5 trillion.
National Farmers Union (NFU), a staunch opponent of regressive taxation, increased federal debt, and any legislation that jeopardizes farm program funding, urged House members to vote against the legislation and scored the vote. In response to the vote, NFU Senior Vice President of Public Policy and Communications Rob Larew released the following statement:
“NFU is alarmed by the House’s decision to pass highly flawed tax reform legislation that has disastrous implications for American family farmers and ranchers. The policies put forth by this bill would increase the tax burden on family farmers and the middle class, and they add a massive $1.5 trillion to our national deficit. On top of that, they potentially put funding for vital farm safety net programs on the chopping block and jeopardize passage of the Farm Bill.
“We urge the Senate to reconsider their current legislation, as it has comparable implications for family farm agriculture. Farmers Union will continue to advocate for simplified, progressive tax reform that recognizes the needs of family farmers and ranchers.”
Farm Bureau Praises House Tax Bill Passage
Zippy Duvall, president, American Farm Bureau Federation:
“Today’s passage of the Tax Cuts and Jobs Act (H.R. 1) by the House of Representatives puts us one step closer to a tax code that works for all farmers and ranchers. Lower rates combined with the preservation of small business expensing, like-kind exchanges and the business deduction for state and local taxes are just a few of the things we are pleased to see in this legislation. We look forward to working with the Senate to build on this success in the coming weeks.”
For more articles concerning agricultural policy, click here.
