ISSUES AND POLICY
STAKEHOLDER NEWS
NCBA Applauds House Efforts to Make Permanent Section 179 of Tax Code
O
N FRIDAY, FEB. 13, THE U.S. HOUSE OF REPRESENTATIVES passed H.R. 636 America’s Small Business Tax Re-
lief Act of 2015. This bill, sponsored by Rep. Pat Tiberi (R-Ohio) will make permanent the $500,000 expens- ing levels for small businesses under Section 179 of the tax code. National Cattlemen’s Beef Association (NCBA) Presi-
dent Philip Ellis says permanency to the tax code is critical for cattlemen in order to make necessary pur- chasing decisions and informed business decisions. The passage of this bill allows farmers and ranchers to write off capital expenditures in the year that purchases are made, rather than depreciate them over time. The passage of this bill follows a letter sent to Speaker
of the House Rep. Boehner, urging for the permanency of Section 179 of the tax code. The letter was signed by NCBA along with 33 other groups. “Section 179 small business expensing provides
agricultural producers with a way to maximize busi- ness purchases in years when they have positive cash fl ow,” the letter reads in part. “Under the expired law, the maximum amount that a small business can im- mediately expense when purchasing business assets, instead of depreciating them over time, is $25,000 adjusted for infl ation.” Agriculture requires large investments in machin-
ery, equipment and other depreciable assets, and the ability to immediately expense capital purchases pro- vides an incentive for farmers and ranchers to invest in their businesses and offers the benefi t of reducing the record-keeping burden associated with the depreciation. “We appreciate Rep. Tiberi’s leadership on behalf of
small businesses like so many in the cattle industry,” says Ellis, a Wyoming rancher. “We urge the Senate to take up similar legislation and continue working toward a comprehensive tax reform that provides a stable business environment.”
TSCRA Pleased with Withdrawal of EPA Interpretive Water Rule
O
N FEB. 4, TEXAS AND SOUTHWESTERN CATTLE RAISERS AS- sociation (TSCRA) stated its approval that the
Environmental Protection Agency (EPA) and the U.S. Army Corps of Engineers had issued a memorandum withdrawing their Waters of the U.S. (WOTUS) inter- pretive rule. “While I am pleased the EPA withdrew this com-
ponent of their fl awed water rule proposal, it doesn’t address the overall issue and it actually wasn’t their decision to take this action.” said Pete Bonds, TSCRA president. “Instead, Congress had to pass a bill and force their hand to scrap this small part of the larger overreaching EPA water rule proposal. “Ranchers and landowners across the country con-
tinue to speak loud and clear in opposition to EPA’s attempt to control every drop of water on their land. I am disappointed that the agency continues to ignore the concerns of those who work extremely hard to feed our country. “TSCRA applauds Congressional leaders for their
continued efforts to rein in the EPA, and we appreciate the many cattle raisers and landowners who continue calling their elected offi cials to voice their concerns. “This decision is a step forward; however, we still
have our work cut out for us. There is no doubt that the EPA will continue in full force to implement their larger water rule proposal. We must continue to be diligent and work to stop them from implementing rules that create onerous government regulations that take away ranchers’ and landowners’ private property rights. “TSCRA will continue striving to make sure that
rules harmful to cattle raisers and landowners are not implemented.”
96 The Cattleman April 2015
thecattlemanmagazine.com
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116