Perdue Changes To Tax Laws Could Benefit Ag

Details of the next federal budget are still being worked out in Washington, DC.  Once that is done, work is expected to begin on a major tax reform.  Ag Secretary Sonny Perdue thinks the proposed tax law changes will be good for agriculture.  And he notes lawmakers must remember farmers are businesses owners as well.

“They have to make a profit in order to continue to do that, and taxes are a huge part of that.  I think the proposal President Trump has made for farmers in a couple different areas is based on rates and treating these businesses in a lower tax rate will be extremely helpful to farmers.”

Perdue noted that when farmers have more money the regional economy benefits, through infrastructure improvement, large scale purchases, employee paychecks and more.  Perdue said it’s also important for DC to do away with the death tax.

“As you know, it’s not too funny to say farmers live poor and die rich with land, so that’s unfortunately…they get caught in the estate tax.  And it’s a double tax, and I’m delighted President Trump is proposing to do away with it,” said Perdue.

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