Agriculture and business and industry groups want Congress to pass tax extenders legislation during the lame duck session. The Broad Tax Extender’s Coalition is made up of groups like the American Farm Bureau, National Association of Manufacturers and the National Federation of Independent Business. Coalition member and Texas farmer Mike Friemel says the section 179 deduction for farm equipment is the major one he’s concerned about.
National Association of Manufacturers Vice President Dorothy Coleman says the largest challenge to getting the tax extenders legislation through the lame duck session is the short time they have available to address the issue
The agriculture components in the tax extender’s bill includes the section 179 deduction, the biodiesel and wind production tax credits.