Newhouse: Tax Reform Will Benefit Ag Community In Many Ways, Right Away

Tax reform signed in to law last week, you’ve heard a lot of numbers and figures.  But how will it benefit the farming community?

Central Washington representative Dan Newhouse told the Washington Ag Network there will be many benefits to the ag industry, and many of those benefits will be noticed right away.

“Certainly by lowering the corporate tax rate.  I think that will be a huge plus by being able to accelerate the depreciation of purchased assets will also help spur benefits to the agricultural industry.”

Newhouse added while a few details have yet to be realized, and some of the benefits will not take place immediately, he’s confident this reform is good news for Central Washington.

“Certainly, eliminating the estate tax is something that should be a benefit to agriculture as well.  So, there are several things we can point to that should help the agricultural industry,” Newhouse added.

If you have a story idea for the Washington Ag Network, call (509) 547-1618, or e-mail gvaagen@cherrycreekradio.com