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Jul 27, 2017
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 for comprehensive tax reform. The priorities communicated by ASA and the agricultural groups included maintaining cash accounting, income averaging, business interest deductions and Like-Kind exchanges for farmers. The groups also expressed support for immediate expensing and repeal of estate taxes while maintaining stepped-up basis.
The White House and Republican Congressional Leaders are working together to develop a unified position on tax reform issues. ASA will continue to communicate our priorities as Congress and the Administration begin drafting specific legislative language and move forward on tax reform.
