Tax Issues

ISSUE UPDATE: House Tax Reform Proposal

Last week, House Ways & Means Committee Chairman Kevin Brady (R-TX) released his tax reform proposal that will be the basis for the committee mark-up to begin as early as next week.  The Tax Cuts and Jobs Act proposes to lower individual and corporate tax rates and streamline the tax code. Below is a summary … Read More »

House Ways & Means Chairman Unveiling Tax Reform Proposal

Today, House Ways & Means Committee Chairman Kevin Brady (R-TX) is releasing his tax reform proposal that will be the basis for the committee mark-up to begin as early as next week.  The Tax Cuts and Jobs Act will propose to lower individual and corporate tax rates, streamline the tax code, and eliminate existing incentives … Read More »

Important Budget Process Unfolding in Congress Over Next Two Weeks

The U.S. House of Representatives and U.S. Senate are preparing for floor consideration of their respective budget resolutions for fiscal year 2018.  While typically partisan and symbolic exercises, the FY2018 budget process includes reconciliation provisions that Republican leaders hope to use to pave the way for enactment of comprehensive tax reform. The reconciliation process would enable … Read More »

Republicans Unveil Tax Framework Document

Republican leaders unveiled a framework document that represents advancements and agreements they have reached on some of the broad tax issues this week.  The document states that the Administration and Republican Leaders are developing a unified framework with the goal of achieving fiscally-responsible tax reform that is “built for growth, supports middle-class families, defends workers, … Read More »

ASAAP Meeting Focuses on Regulations and Sustainability

Members of the American Soybean Association (ASA) Action Partnership (ASAAP) met in Essex, Vt. to discuss issues, regulations and policy affecting the soybean industry. In addition to ASA policy updates and an industry forum, panels focused on agriculture sustainability, GMO labeling and the initial debate in Vermont, and tax reform and its affects on agriculture. … Read More »

ASA, Ag Groups Meet with Secretary Mnuchin to Discuss Tax Reform

This week American Soybean Association (ASA) Washington staff attended and participated in a meeting of agricultural groups at the White House with Treasury Secretary Steven Mnuchin to discuss tax reform. The meeting was one of a series of sessions the White House is conducting with various industry sectors as they develop their policies and strategies … Read More »

ASA Directors, Staff Gather in Washington for July Board Meeting and Issues Forum

In Washington this week, the American Soybean Association’s (ASA) board of directors and other leaders in the soybean industry met for its annual July meeting and Issues Forum, discussing issues including trade, infrastructure, tax reform and other issues of importance to the industry, including the upcoming farm bill negotiations. During the Issues Forum on Tuesday afternoon, attendees … Read More »

House Ag Committee Holds Hearing on Tax Reform

The House Agriculture Committee held a hearing this week to examine tax issues that are of specific interest and impact to agriculture. The hearing provided a forum on the unique nature of family farm operations and the tax provisions that impact them most directly. Discussion focused on many of the tax issues identified in ASA’s … Read More »

Farm Groups Support Estate Tax Repeal

The American Soybean Association (ASA) was among 32 agricultural groups that signed onto a letter to House Ways & Means Committee Chairman Kevin Brady (R-TX) and Ranking Member Richard Neal (D-MA) indicating support for full repeal of the estate tax. The groups urged that the estate tax repeal be included in any tax reform package passed … Read More »

Soy Growers Push for Extension of Biodiesel Tax Credit

The American Soybean Association (ASA) continues its efforts to secure an extension of the biodiesel tax credit, which expires again at the end of 2016.  While a “tax extenders” package had become an annual occurrence in Congress, changing dynamics have made it even more challenging and far less certain than past years. The tax package … Read More »