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Meat processing bill aims to boost cattle market fairness

Congressman Jason Smith of Missouri says his meat processing bill will help provide a fair price to cattle producers and consumers.

Smith said the Feed America by Incentivizing Rural Meat Packing Act, co-sponsored by Roger Marshall of Kansas, and Mike Rounds and Dusty Johnson of South Dakota, provides market competition to ‘the big four’ meat processors.

“It creates two tax incentives to help facilitate or grow small and mid-sized meat processing facilities,” he said. “Allowing cattle producers to compete for better prices in the marketplace.”

The bill provides a 25 percent tax credit for ‘small and mid-sized’ livestock processing facilities and a partially refundable credit for ‘start-up and organizational’ costs for those businesses.

“This legislation only helps ensure that we have a level playing field for our nation’s cattlemen,” Smith said. “And to hopefully return to more of a fair price for both cattlemen and consumers.”

Smith said while his bill will create more competition, the cattle market needs to use multiple approaches like parts of Iowa Senator Chuck Grassley’s bill and others from Nebraska Senator Deb Fischer’s bill.