Co-op council encouraged by Mnuchin

The head of the National Council for Farmer Cooperatives says they’re encouraged by the Treasury Secretary’s commitment to ensure that regulations implementing section 199A of the tax code follow the intent of Congress.

Chuck Connor says the intent of Congress is not seen in the current IRS proposal which he says would punish farmers and ranchers with a tax increase.

Secretary Mnuchin testified before the House Ways and Means Committee pledging to work with lawmakers to make sure regulations fix the “grain glitch.”

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