Local

Senators Introduce Farm Bankruptcy Legislation

Senators Introduce Farm Bankruptcy Legislation

Senators Chuck Grassley and Al Franken have introduced legislation to reverse a Supreme Court ruling that is making it tougher for producers to reorganize their finances when they fall on hard times.  Grassley says the legislation puts back into effect a provision of the original bankruptcy code enacted in 2005.

Grassley says their bill clarifies that bankrupt producers reorganizing their debts are able to treat capital gains taxes as general unsecured claims. It removes the Internal Revenue Service’s veto power giving the farmer a chance to successfully reorganize.

Grassley says the legislation is a common sense fix to ensure the law is carried out as it was intended so farmers going through bankruptcy can keep their land and repay their debts.

Recent Headlines

in National

2 NYPD officers killed, gunman dead

nypd

The fatal shooting may have been a revenge attack over police treatment of minorities.

in National

Making headlines this week

AP32876106925_13

A look back on some of the week's biggest stories and the headlines you may have missed.

in Local

Northwestern Energy Requesting Rate Hike

NW ENERGY 72914

A request has been made with the Public Utilities Commission for a rate hike for Northwestern Energy customers.

in National

Consumers can sue Target over data breach

target

A judge has cleared the way for consumers to sue the retailer over the 2013 data breach.

in Local

Nebraska Students Experience Taiwanese Agriculture

School Books

Three Nebraska high school seniors spent last week in Taiwan, touring farms, research facilities, and learning the local culture.