Several tax bills have been recently introduced in Congress in order to protect several key tax provisions from the 2017 Tax Cuts and Jobs Act and ensure cattle producers can keep more of their hard-earned money. In the latest episode of the National Cattlemen’s Beef Association’s (NCBA) Beltway Beef podcast, NCBA Associate Director of Government Affairs Kelsea Kemp said several members of Congress have indicated their priorities for the new tax package.
One of the potential bills is the Main Street Tax Certainty Act, which would make Section 199A- an important business deduction- permanent. Kemp said Section 199A is extremely important for many cattle producers.
In fact, 56% of cattle producers surveyed by the NCBA said that they consider Section 199A to be very important to their operations.
For more information, visit ncba.org.
