AGRIBUSINESS: Senate To Address Small Business Tax Breaks

It’s been about five months since key agricultural and other tax breaks expired and the Senate finally turned to a tax extenders bill.

The Senate voted 96 to 3 to move on to this bill, but Senator Chuck Grassley says Republican opposition will likely slow it down by forcing procedural votes. Opponents say the bill picks winners and losers.

American Farm Bureau President Bob Stallman urges Congress to permanently extend the small business expenses section 179 of the bill.

Before expiring, it provided $500,000 in tax breaks for business expenses. Now it’s down to $25,000.

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