
Photo source: ncba.org
The National Cattlemen’s Beef Association is urging U.S. Senators to pass a sweeping tax package aimed at helping family-owned cattle operations stay in business.
In a letter sent to Senate leaders, the NCBA and its state affiliates voiced strong support for what’s been dubbed the “One Big Beautiful Bill.” The legislation would make permanent several key tax provisions originally set to expire from the 2017 tax reforms.
At the top of their list? An increase in the estate and gift tax exemption to $15 million. The NCBA says the so-called “death tax” remains one of the biggest threats to family cattle operations. Many ranchers are “asset rich and cash poor” — meaning they may be forced to sell land or livestock just to pay the tax bill.
The group also backs the permanent extension of the Section 199A small business deduction, which benefits pass-through entities like most cattle farms. Without it, ranchers could see significant tax hikes.
Other provisions supported by the NCBA include:
Raising the Section 179 deduction limit to $2.5 million for equipment purchases,
And bringing back 100% bonus depreciation to help producers fully deduct capital expenses in the first year.
NCBA leaders say producers need predictability in the tax code to plan for the future and continue passing operations down through generations. The letter called on lawmakers to act quickly, saying, quote, “time is of the essence.”
Founded in 1898, the NCBA is the oldest and largest national trade group representing cattle farmers and ranchers.
Source: NCBA
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