DTN Political Correspondent Jerry Hagstrom reported today that, “A coalition of 180 farm and agribusiness groups has written House Speaker Paul Ryan, R-Wis., and House Minority Leader Nancy Pelosi, D-Calif., urging them to preserve the deduction for co-op production and marketing expenses known as Section 199 in the tax bill.
“The bill that the House Ways and Means Committee passed last week eliminates the deduction that co-ops pass along to their members. Section 199 is generally known as the Domestic Production Activities Deduction,
“‘In its current form, H.R. 1 repeals Section 199 with the assumption that cooperatives and their members would benefit from the proposed reduced corporate and individual tax rates,’ the farm leaders organized by the National Council of Farmer Cooperatives wrote.”
The DTN article pointed out that, “The House is expected to vote on the tax bill on Thursday after the House Rules Committee issues a rule on Wednesday.
“The Senate Finance Committee is considering the Senate version of the bill this week.”
