The National Cattlemen’s Beef Association is still working to achieve a permanent Section 179 exemption as part of tax reform. Earlier this year the House passed a permanent exemption while the measure has slowed during debate in the Senate. NCBA Associate Director of Legislative Affairs Kent Bacus says they’re hoping to see either a separate measure or to combine Section 179 with a bonus depreciation provision.

 
Bacus says the bonus depreciation is important for cattle producers in that it will help boost the economy.  He says it will be a difficult lift in order to get any significant tax reform completed yet this year.

 
The Section 179 deduction lets producers reinvest in their operations and gives them a break for purchases of tractors, combines and other farm equipment.