News

South Dakota Farm Bureau President In Favor Of Tax Reform

South Dakota Farm Bureau President In Favor Of Tax Reform

Photo: WNAX

House Ways and Means Committee Chairman Dave Camp has unveiled a new tax reform proposal. It calls for lowering income tax rates for most Americans and businesses but also reducing or eliminating key tax breaks. South Dakota Farm Bureau President Scott Vanderwal says ag exemptions need to be left in the reform. He says however that Camp’s idea to make taxes simpler is a good move.

Camp’s plan calls for reducing the number of individual income tax brackets from seven to three and raise the standard deduction to 11 thousand for individuals and 22 thousand for couples. Vanderwal says while that’s positive, it’s important as reform goes forward, taxes aren’t raised in the process.

Vanderwal says tax reform also needs to leave in cash accounting which agriculture needs to have as a tool to manage their finances.

Camp has unveiled his plan even though some say Congress may not get around to actually working on tax reform until 2017.

Recent Headlines

in Local

Iowa Lawmakers Work Ahead of Holiday

Iowa state capital 2

Iowa lawmakers got an extra early start to this Memorial Day weekend.

in Local

Nebraska Lawmakers Vote to Allow Illegal Children to Have Licences

nebraska-state-capital

State lawmakers have moved to end Nebraska's status as the only state left that denies driver's licenses to the children of illegal immigrants.

in Local

Nebraska Governor Please with Spending Plan

money one hundred dollar bill

Nebraska Governor Pete Ricketts is pleased with the $8.6 billion spending plan for the next two years.

in Local

South Dakota Senator Recognizes Air Veterans

flag

In honor of the Memorial Day observance, South Dakota Senator John Thune made a floor speech recognizing the air aces of American military forces.

in Local

Increased Patrol on I-90 Memorial Day Weekend

police lights

Law enforcement agencies in South Dakota and Minnesota will be out in full force this weekend along Interstate 90.