A new poll out by Washington D.C. based pollster Morning Consult, shows that seven out of 10 voters surveyed want Congress to pass tax reform legislation. Nebraska Farm Bureau President Steve Nelson agrees with that and says the tax reform legislation needs to include permanent repeal of both the capital gains and estate taxes.
He says whatever tax reform bill is approved, it needs to allow farmers and ranchers to deduct the interest from their operations as an expense.
Nelson hopes as part of a tax bill Congress will also allow farmers to use cash accounting as a management tool.
The poll found 63-percent of respondents say the federal income tax rates are too high. Nelson agrees and says federal spending and taxing needs to be reined in.
