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NCBA Wants Comprehensive Tax Reform Legislation Passed

NCBA Wants Comprehensive Tax Reform Legislation Passed

Photo: WNAX


President Trump wants to sign a tax reform bill this fall however veteran lobbyists who weighed in when Congress overhauled the tax code in 1986 say it’ll be a difficult task. National Cattlemen’s Beef Association Vice President of Government Affairs Colin Woodall says they want comprehensive tax reform passed and their majority priority in that is repeal of the estate tax.

He says other components are needed in the tax legislation including addressing stepped up basis and cash accounting.

Woodall says the tax reform measure also needs to allow producers to be able to deduct interest and business expenses.

Some lobbyists believe the best hope Congress has it to pass a temporary tax cut for individuals rather than a full comprehensive measure.