Tax reform benefits agriculture
The House passage of the tax reform bill is an important milestone, but there is still a lot of work to be done. The Senate is currently considering its version of the bill, and then the two chambers will come together and settle the differences.
Our goal is to reduce the tax burden for all Americans. For individuals and families, the House bill simplifies the rate structure, doubles the standard deduction, and allows nine out of 10 filers to submit their tax returns on a postcard. It also lowers rates on small businesses, including a nine percent rate for businesses earning less than $75,000. Considering more than 96 percent of Nebraska’s employers are small businesses, this provision can provide a strong boost to our state’s economy.
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