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Senator Grassley Says Change To Tax Law Is For Benefit Of All Agricultural Businesses

Iowa Senator, Chuck Grassley, joined others from Utah, Kansas and the Dakotas in saying a tax code revision will be a benefit to all agricultural businesses. The resolution made Tuesday corrects an unintended consequence in the previous version of the law that created an inequity within the agricultural sector, providing a tax break for producers who sold crops to cooperatives. The new legislation is meant to provide a level playing field for all other private grain firms as well. “The new pro-growth tax law was designed to lift hard-working, middle-class families—whether they are farmers, ranchers or entrepreneurs—and the economy as a whole,” he says. Grassley adds the agreement reached on Tuesday will restore balanced competition in the marketplace.

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