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Lawmakers Call For Cooperative Tax Code Fix

A group of Republican lawmakers sent a letter to Senate Majority Leader Mitch McConnell and House Speaker Paul Ryan calling for changes to Section 199A in the tax code.

Led by Iowa Representative David Young, more than 80 lawmakers say the changes will restore the competitive balance in the agriculture market.

The Tax Cuts and Jobs Act, passed last year, unintentionally created a tax advantage for producers who sell to cooperatives instead of private or independent businesses through Section 199A.

The letter asks for a remedy to retroactively restore a competitive marketplace in Section 199, before it became 199A. Adding the imbalance will hurt the agriculture value chain.