Lawmakers say the recently passed tax relief package will benefit farmers and ranchers.
Ioway Republican Randy Feenstra spoke in favor of the Tax Relief for American Families and Workers Act during floor debate this week.
“Our farmers will benefit from two key provisions in this bill,” he says. “One hundred percent bonus depreciation and the expansion of Section 179 deduction limit. Our producers rely on these tools to buy farm equipment and invest in their operations.”
House Ways and Means Committee Chair Jason Smith, a fourth-generation farmer from Missouri, is the bill sponsor.