Thursday, November 16, 2017
Statement from the Illinois Farm Bureau Regarding House Passage of the Tax Cuts and Jobs Act
The following is a statement from Illinois Farm Bureau President Richard Guebert, Jr., regarding the House of Representatives’ passage of the Tax Cuts and Jobs Act.
“Farm Bureau members across the state are pleased today to see the House of Representatives pass the first meaningful tax code overhaul in more than a generation.
“The House bill’s provisions, including expanded immediate expensing, continuation of the business interest deduction, and a gradual phase out of the estate tax will help ensure that farmers in Illinois and across the country can remain competitive in the global marketplace and more easily pass their farms to the next generation.
“Illinois Farm Bureau thanks each of the Republican members of the Illinois delegation who voted to pass this legislation. Farm Bureau encourages the Senate Finance Committee to accelerate its work to pass a comparable tax reform proposal and get to conference as soon as possible.”
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