Date: 12/18/2017

Title: NCBA Statement on Final Tax-Reform Legislation

WASHINGTON (Dec. 18, 2017) – Craig Uden, president of the National Cattlemen’s Beef Association (NCBA), today released the following statement in response to final tax-reform legislation that is scheduled to be considered in Congress this week:

“The Tax Cuts and Jobs Act makes a number of changes to the current tax code that will benefit family ranchers and farmers, including the expansion of key provisions livestock producers rely on like cash accounting, bonus depreciation and Section 179. While it is disappointing that Congress ultimately passed up this once-in-a-generation chance to fully and permanently repeal the unfair and onerous death tax, the final bill does take a sizeable bite out of the death tax by doubling the exemption rates, and we are grateful for the lawmakers who fought so tirelessly on agriculture’s behalf. Unfortunately, in order to keep the cost of the bill within Senate budget rules, all of the positive changes affecting individuals, including the higher death tax exemption rates, are set to expire after 2025. Of course, fourth-, fifth-, and sixth-generation cattle producers tend to think about things in the long-term, and in that tradition, we will continue to fight to reduce the tax burden on family ranchers in the months and years to come.”