The House passed the tax reform conference report on Tuesday with the Senate following suit. National Cattlemen’s Beef Association Vice President of Government Affairs Colin Woodall says while there are some good provisions for ag in the final package, they are only temporary and the overall bill is disappointing.

Woodall explains what they view as the beneficial portions of the final tax reform bill for farmers and ranchers.

He says another positive is the stepped-up basis, along with a doubling of the exemption level for the estate tax. He says unfortunately his group would have preferred full repeal of the tax and this was the last opportunity to get that included in the bill.

Woodall says it’s disappointing budget gimmicks were used to get enough votes for the tax reform legislation. He says most of that was tied to budget reconciliation.