Iowa Senator Chuck Grassley says Congress needs to fix the 199A tax provision that gives co-ops an advantage over private grain buyers.
In a conference call with reporters, Grassley said he’s heard from private grain buyers that the Section 199A deduction could put them out of business. He says that provision, which allows farmers to claim a 20 percent deduction on all payments received on sales to cooperatives, must be fixed.
“We have to correct it,” Grassley says.
Continue reading Grassley on 199A: ‘It’s got to be changed’ at Brownfield Ag News.
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