Trump: Tax Reform Will Spur the Farm Economy

During his recent address to the American Farm Bureau Federation convention, President Trump promoted the GOP’s recently passed tax reform bill.  Trump said many of working class Americans have already seen a benefit from the reform, as many companies and corporations have paid employees bonuses.  While the benefit may not be as immediate for the farming community, Trump says agriculture will benefit.

And he noted much of that will come when large purchases are made.

"American farmers will be able to deduct 100% of the cost of new equipment in the year you make the investment.  That is something that is tremendous.”

Trump added the deduction will be the sleeper portion of the legislation.   Trump said he’d fight again to help the people of small town and rural America.

“And yet every Democrat in the House and every Democrat in the Senate voted against tax cuts for the American farmer and for the American worker.  But Republicans came together and delivered historic relief for our farmers and our middle class.”

Trump spoke to the AFBF for about 40 minutes Monday.

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