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Dairy coalition likes tax reform bill

The federal tax reform bill Congress voted on Tuesday is liked by dairy farmers.  The American Dairy Coalition says the compromise bill released last Friday includes provisions that help farmers.

The coalition likes the 20% deduction for pass-through businesses like sole proprietorships, partnerships, and limited liability companies, which includes most farms.  The bill also includes an increase to the estate tax exemption and an expansion of the Section 179 bonus depreciation allowances and some deductions for personal property taxes paid along with either a sales or income tax credit up to 10-thousand dollars.

The House of Representatives has already passed the tax reform bill on a party-line vote.  The U.S. Senate is expected to vote Tuesday evening. President Trump is expecting the bill on his desk for signature before Christmas.