Thursday, the House voted 258 to 160 to pass legislation that makes permanent the fifty percent bonus depreciation of new capital purchases. NCBA Manager of Legislative Affairs Kent Bacus says the measure provides farmers and ranchers the ability to make long term investments in their businesses.
Bacus says while they’re happy with House approval, the likelihood of it getting made permanent by the Senate or signed by the President is in question.
Bacus says eventually some middle ground will have to be found.
Bacus says the issue won’t be decided until later in the year following the November election.