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Nebraska farm groups react to tax reform bill

(MGN)

The Nebraska Farm Bureau and the Nebraska Farmers Union released statements on Saturday after the Senate passed a nearly $1.5 trillion tax bill.

Steve Nelson, president of the Nebraska Farm Bureau, said the legislation will provide meaningful tax relief.

"From possible lower income taxes, expanded Section 179 small businesses expensing, to the doubling of estate tax exemptions, this bill warrants our support," Nelson said. "We want to sincerely think Senators Deb Fischer and Ben Sasse for their work in helping to move this important legislation forward.”

“As the House and Senate now work to iron out their legislative differences, it is our hope that the momentum continues behind this effort and that Congress along with the President can offer farmers, ranchers, small business owners, and individuals, well deserved tax code reform.”

Nebraska Farmers Union President John Hansen said he is deeply disappointed that farm state Republicans voted for a tax bill that will "explode the national deficit that will set off a hurtful chain reaction of major adverse impacts on agriculture."

Hansen outlined the following negative effects:

  • Undermining the availability and affordability of health care in rural areas
  • Limit the full deductibility of local taxes of which Nebraska is 2nd in the nation in the level of property taxes we use to fund K-12 education
  • Undermine the ability of Congress to adequately fund the Farm Bill, which is currently woefully inadequate at meeting the needs of family farmers during times of low commodity prices
  • Undermine the ability of Congress to fund the entitlement programs low income rural Nebraskans depend on in their retirement

"...The logic and particulars of this federal tax bill is the same failed trickle-down economics based policy that was a painful failure in the state of Kansas," Hansen said. "It failed in Kanas, and it will fail in the nation. It will explode the federal deficit and saddle our children with our generation’s debts because we failed to pay our own bills. It is irresponsible fiscal policy."

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